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i hear ya
ok getting to down to it here.
My guess is this: they raise rates and the market rises over the next week.
I think the hedgies are waiting to dial in a new economic scenario but they are keeping their cash in cash until they can run interest rate scenarios through their formulas and see how everyone else reacts. So if the Fed stays consistent, raises rates and says nothing important, they will be able to say 'ok I think we understand what the fed is doing - let's put some money to work'
if the fed does not raise rates then I think the market does nothing today and then just sort of floats around until the fed does in fact raise rates and show they have some backbone.
everyone knows the fed has to raise rates soon - i think the market wants to hear something predictable and steady and then cash will be put to work.
it's the insecurity, the unknowns that are keeping the market down, I think.
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