Power Lunch

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Power Lunch

Power Play: Global Volatility

A pensioner tries to enter a National Bank branch to receive part of her pension in the island of Crete, Greece July 9, 2015.
Stefanos Rapanis | Reuters

The markets have had a volatile week, as Greek debt looms and Chinese markets sold off sharply. Matthew Roddy, Vice President and Portfolio Manager of Rockland Trust tells CNBC's Power Lunch that he's seeing a "flight to quality" for investors.

Roddy notes that this was "primarily due to the brinkmanship going on in Europe over Greece and the growth concerns plaguing Chinese Markets."

The Eurozone is something to keep a close eye on for the U.S. markets. "Candidly I hope the Eurozone let's Greece go even though it will surely cause short term volatility to last a bit longer," says Rockland Trust' Matt Roddy.

He does note however that it will not lead to another crisis.Traders watched the market closely this week as Eurozone creditors negotiated deals for Greek banks.

On the other side of the coin, if the Eurozone does not let them go, Roddy believes the Euro will remain weaker for longer.

"This will cause upward pressure on the dollar and by default our economy, thereby impeding the Fed's ability to raise rates."

Either way, Matt Roddy does not see short term rates rising until December at the earliest for U.S. investors.