bond markets

In Europe, they closed them. In the US, the ABX indexes are spiking like Jack's magic beanstalk. Protection costs more than the bonds yield. CMBX index spreads have jumped as much as from 3.66 to a 90+ point spread. These moves make the 23 standard deviation moves in August look like everyday occurrences. Here's the chart:

All I can say is, uh, oh......