Sentiment: Strong Sell
For September-never mind it is too little, too late-25bps from zero is nothing to be excited about, when discount and fed funds rates should have been raised years ago and now stand between 2-3% level.
Amazing what conspiracy stories society comes up with, when markets revert to the mean after a record financial bubble.
What it means that even larger players do not want to catch a falling knife at -30 to -40% down on these illiquid type synthetic derivative instruments-It means they believe they could be worth far less than even -30 to -40%.
The real question you should be asking is why big players did not have open orders there ready to buy, when the price dumped by 30-40% that day.
So the entire economy is now down to a shill bid in financial assets-damn the real economy-LOL.
People don't understand the excessive leverage taken on the shortest end of the curve has stymied them from even normalizing to 1%-lowest level reached during Greenspan from 2001 to 2003.