Market volatility is rife amid lingering macro headwinds, as is evident from the CBOE Volatility Index’s 58.4% year-to-date gains. Moreover, the Fed is expected to announce another rate hike in September. Atlanta Federal Reserve Bank President Raphael is supporting a 50 bps hike in September to a 3.5%-3.8% total rate range by the end of 2022.
In addition, John Stoltzfus, chief investment strategist at Oppenheimer Asset Management, said, “Volatility will continue because there’s enough uncertainty out there to justify it.”
