The big question about the impact on the capital markets is to get away from thinking about it as the impact on average and the impact under normal circumstances. It's very difficult to assess what the impact would be immediately if this were to be done. If any study purports to be able to provide data to that effect, it's just not feasible to actually estimate it. You can't run that social experiment.
What we do know is that credit-rating agencies take into account in their evaluation of the credit-worthiness of companies the status of the pension plans, and we do know that they account for the deficit position of a pension fund as additional effective debt held by the company. So for those companies that have a substantial defined benefit pension fund, and at the times when they are either in a deficit position or there's a high risk of a deficit position because of their investment strategies, those companies in particular would absolutely be impacted, and potentially quite significantly, potentially through a decrease in their credit rating and therefore an increase in their financing costs.