People who had been buying the front end and selling the back now have trades they don't like.
More Quotes from Alan Rose:
You got a little bit of buying because of the non-defense capital orders ex-aircraft, but now there's not much going on. There are really no flows.Alan Rose
The market was at pretty lofty levels and needed good news to stay at those levels and we didn't get it.
Alan Rose
We're just marking time before the Fed meeting.
Alan Rose
Everything points to a moderation in the economy, which points to the Fed closer to being finished. The front end of the market has some value here.
Alan Rose
He is going to dance around the weeds a little bit, calling for the Fed to be data-dependent.
Alan Rose
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