This article is a couple of days old, but the fact that these so-called pension funds were using leverage to assist with returns in this very low interest rate environment for their bond holdings was encouraged by BlackRock who were providing the market for them, reminds me of the 2006-7 time when the GS, JPM and co were doing the same for the CDO's etc. Some of the Trustees and investment people in these funds must be feeling very worried at the moment, and those relying on receiving their pension from these funds might feel inclined to take action. I don't think we have seen the end of this saga. For the FED to have this meeting Monday suggests something very serious is brewing.
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