Online MBA, a website dedicated to business education and related resources, is giving away a limited number of books on its recommended list. Among the titles offered: Dynamic Asset Allocation. Instructions on how to request a copy of my book, or some of the other titles offered, are posted here (at the bottom of the page). What’s the catch? Supplies are limited…first come, first serve.

Earlier this week we pondered the potential for higher deflation in the months ahead. One of the suggestive clues was the falling inflation forecast as implied by the shrinking spread between the yields on the nominal and inflation-indexed 10-year Treasuries. At the time, the market was priced for inflation at 2.13% for the decade ahead (as of May 18). A mere 48 hours later, the market-based forecast dropped sharply: Treasuries yesterday anticipated inflation at 1.89%–the first reading under 2% since last October.

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Today’s update on last week’s new jobless claims is discouraging, and not only because filings jumped by a hefty 25,000 for the week through May 15.

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Last week, I advised that the unusual rallies in the dollar and gold this year may be a warning sign that deflationary winds are starting to blow harder. Historically, one falls as the other rises. The fact that both are climbing suggests the markets are worried about deflation…again. Today’s report on April consumer prices only strengthens the case for thinking that the “D” risk is climbing once more. It may be a false warning, but it’s getting harder to ignore.

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Every financial crisis brings cries of more regulation. True in centuries past, true today. But more regulation isn’t always better regulation. And sometimes the knee-jerk reaction to do something, anything (if only to look politically astute) is a step backward.

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The housing market has stabilized. In fact, it’s safe to say that it’s rebounding. After being hammered for three consecutive years through early 2009, the trend is again friendly in housing construction. But the number of new building permits issued fell sharply last month. Is the nascent recovery in housing starts destined to follow?

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May’s shaping up to be a rough month for most of the major asset classes. The primary catalyst: debt worries. As investors become increasingly anxious over the ramifications of mounting deficit spending in Europe and throughout the developed world, risk aversion is the new new thing…again.

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Red-ink roundup: Here, there and everywhere…

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Retail sales rose in April—the seventh consecutive monthly increase, the government reported. Meanwhile, industrial production also rose last month—the third straight rise and the strongest since January. On a year-over-year basis, both measures are up sharply, suggesting that the broad trend in the economic recovery rolls on.

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Online MBA, a business education website, listed my book–Dynamic Asset Allocation–as one the “Top 25 Recommended Readings for May.” The full list of recommendations is reviewed here.

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