I agree that the MMs are certainly in play, but frankly I don't think it's reasonable to think a settlement is a done deal already. (Eventually, yes.) We'd have had much, much more volume consistently (that is; not just on some days) across all classes, and at least one very significant spike at some point since the theorized time it occurred. That sort of news just doesn't stay under wraps, let alone as long as it has been suggested, in my opinion.
I do think we'll all be rewarded handsomely in the end though.