Everybody pretty much knows what they're going to do -- they're going to raise the fed funds rate, ... everybody's going to be looking at their policy statement to see what the future is going to bring.
More Quotes from Paul Mendelsohn:
The yield curve is beginning to frighten people.Paul Mendelsohn
Everyone is setting up for tomorrow's employment reports. It's a big mover of all markets, so people don't want to be caught on the wrong side. People want to go in neutral. We'll see this position squaring across the board ahead of that number.
Paul Mendelsohn
However, the market has already discounted first-quarter earnings, and maybe even second, ... The greater concern is about the economy going forward.
Paul Mendelsohn
So far all of the news coming into the market today is negative.
Paul Mendelsohn
There is so much uncertainty in the energy, metals and commodity markets and at the same time we're not getting a very clear picture on what 2006 is going to look like from fourth-quarter earnings.
Paul Mendelsohn
It's going to be a really busy day. All of this means you're probably going to see a lot of volatility.
Paul Mendelsohn
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