After being one of the "last holdouts" betting on a September rate hike by the Federal Reserve, BTIG has now changed its mind and is not expecting a hike announcement when the central bank meets next week, its chief global strategist Dan Greenhaus said Thursday.
"There is not a level of conviction among clients and in private markets that I think the Fed would like to see in order to eventually raise rates," he said in an interview with CNBC's "Power Lunch."
That leaves October and December as possible targets for liftoff in 2015, and both have negatives working against them, Greenhaus said.
He expects the uncertainty in the markets to continue leading up to each meeting until the Fed finally does implement a rate increase.
Sharon Stark, managing director and fixed-income strategist at D.A. Davidson & Co., also isn't anticipating a September hike. Instead, she thinks it will come in October or December.
"Looking at the numbers that have come out recently on employment, the volatility in the equity markets, the volatility in the global markets, I think gives them ample reason to wait," she told "Power Lunch."
"What we're going to see is the Fed saying that things are not exactly where they want them to be, especially given the level of inflation and the potential for deflationary pressures coming from China."
However, if the Fed doesn't move next week, she expects the market to be disappointed.
—CNBC's Uptin Saiidi contributed to this report.