Bond Price Goes From $0.00 on the Dollar to 65% Yield

The 30-year guilt in the UK fell from par, $0.00 on the dollar down to 65%. And they were using leverage. They had three times leverage, which meant that 35 point or percentage point loss on the market of their bonds is actually close to 100% now when you're using three times Leverage. So it was a debt spiral of a leverage unwind that EBOE had to step in to stem the losses.