I suspect that there's a little optimism that the Fed will signal that they are just about done, that they'll change their language from saying 'further policy firming may be' to saying it 'might be' needed.
People have adjusted faster than we expected to the way they use credit. This could be a signal that Christmas sales may be weaker than expected.
The market has not seen a negative sharp change in fundamentals, ... You haven't seen a sharp rise in interest rates or a signal that the money isn't there to keep lifting prices.