It's been a tough year for markets, as investors grapple with a strong U.S. dollar, stubbornly high consumer prices and the prospect of higher-for-longer interest rate hikes. "The market backdrop is very much dominated by the actions of central banks and what appears to be increasingly hawkish rhetoric.
Inflation will also have to come down meaningfully — below 4% — before the Fed slows it current rate of tightening, Veitch said. Buy the dip? So how should investors position against this backdrop? While Veitch cautioned that "there are a lot of moving parts" and indicated he would stay "tactically cautious," he also sees opportunities to buy the dip.
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