BofA’s Hartnett Warns Markets Are Starting to Look Like 2008

Bank of America strategist Michael Hartnett warns that current market conditions, driven by spiking oil prices and private credit concerns, are reminiscent of the period before the 2008 global financial crisis. He draws parallels between the significant rise in oil prices and early credit market instability then and the recent 60% surge in oil due to the Iran war alongside growing private credit pressures now.