Tech
Bank of America’s Hartnett Says Market Shows Signs of Bubble
Markets are showing signs of a bubble, with the so-called Magnificent Seven tech stocks hitting record highs and cryptocurrency prices hitting all-time highs, according to Michael Hartnett, chief investment strategist at Bank of America Corp.
With inflation picking up again, growth a bit weak and risk assets unscathed, “this is very symptomatic of a bubble mentality,” Hartnett said Thursday in an interview with Bloomberg TV. The characteristics of a bubble can be seen in prices, the pace of movement, valuations and the narrownessBloomberg Terminal of the goods in gain.