Index: wp-includes/formatting.php
===================================================================
--- wp-includes/formatting.php	(revision 11812)
+++ wp-includes/formatting.php	(working copy)
@@ -55,7 +55,7 @@
 	$static_characters = array_merge(array('---', ' -- ', '--', ' - ', 'xn–', '...', '``', '\'s', '\'\'', ' (tm)'), $cockney);
 	$static_replacements = array_merge(array('—', ' — ', '–', ' – ', 'xn--', '…', $opening_quote, '’s', $closing_quote, ' ™'), $cockneyreplace);
 
-	$dynamic_characters = array('/\'(\d\d(?:’|\')?s)/', '/(\s|\A|")\'/', '/(\d+)"/', '/(\d+)\'/', '/(\S)\'([^\'\s])/', '/(\s|\A)"(?!\s)/', '/"(\s|\S|\Z)/', '/\'([\s.]|\Z)/', '/(\d+)x(\d+)/');
+	$dynamic_characters = array('/\'(\d\d(?:&#8217;|\')?s)/', '/(\s|\A|[([{<]|")\'/', '/(\d+)"/', '/(\d+)\'/', '/(\S)\'([^\'\s])/', '/(\s|\A|[([{<])"(?!\s)/', '/"(\s|\S|\Z)/', '/\'([\s.]|\Z)/', '/(\d+)x(\d+)/');
 	$dynamic_replacements = array('&#8217;$1','$1&#8216;', '$1&#8243;', '$1&#8242;', '$1&#8217;$2', '$1' . $opening_quote . '$2', $closing_quote . '$1', '&#8217;$1', '$1&#215;$2');
 
 	for ( $i = 0; $i < $stop; $i++ ) {