No, that's the problem. If 2.5% isn't doing anything, 2% won't, and they know it. That's why Nov 3rd could be a shock heard around the world. If everyone is buying stocks only because of the idea that the Fed is coming in as some kind of large sugar daddy behind them, is THAT a reason to sustainably see the market rise?? Huh?
I think all of their attention is going to be aimed at dealing specifically with the mortgages on bank's books. You see the pathetic 10 year auction today? NO one showed up. That's why you saw what I think is only the beginning of the selloff in bonds.
No one wants to be the last one out that small door.
You see the market's summation index?
EXTREME.
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