Peter Tchir, fixed income expert and panelist on the TheStreet's lastest Trading Strategies roundtable said he is very cautious heading into the second half of the year as central banks change their tone and yields set higher. "Some of these systematic issues built up in how things are traded might come home to roost in the second half," Tchir said.

Watch more clips from July's Trading Strategies: How to Play a Risky Second Half:

This article was written by a staff member of TheStreet.

More from Video

The Recent Pullback in the Defense Sector Provides a Buying Opportunity

The Recent Pullback in the Defense Sector Provides a Buying Opportunity

Goldman Sachs vs. Morgan Stanley: The Battle for M&A Dollars

Goldman Sachs vs. Morgan Stanley: The Battle for M&A Dollars

3 Reasons Wendy's Should Buy John Schnatter's Papa John's

3 Reasons Wendy's Should Buy John Schnatter's Papa John's

Video: What to Expect From Microsoft's Earnings Thursday

Video: What to Expect From Microsoft's Earnings Thursday

Lee Munson on Why Investors are Shifting to Small-Cap Stocks

Lee Munson on Why Investors are Shifting to Small-Cap Stocks