Commodity Prices Wrong as Often as 27% of Time for Traders

http://www.bloomberg.com/news/2013-10-08/commodity-prices-wrong-as-often-as-27-of-the-time-for-traders.html

Libor and ISDAfix are part of a suite of financial benchmarks that underpin about $1 quadrillion of assets and trades, almost 14 times global economic output in 2012.

I wasn't kidding when I pointed out that the notional value of financial derivatives was over $1.2 quadrillion.  ISDA represents $400 trillion of interest rate swaps.  If bond yields rise appreciably, those derivatives would blow up the global financial system.