COMMENT: These lines caught my attention:
"Hedges blow up after risk gauges in Germany’s government debt market exceeded those of the 2008 world crash."
"The blowout in the euro derivatives market follows a near-collapse of the British government debt, or gilts, market, averted at the last minute by a 50 billion pound bond-buying spree by the Bank of England."
"All in – depending on which survey of pension fund asset allocation you believe – the average US pension has probably lost more than 20% of its asset value this year."
Reminds me of the Movie "Margin Call."