News Summary

• Expectations for inflation, meanwhile, are at an almost five-year high, BofA strategists led by Michael Hartnett wrote in a note.
• Overall sentiment among investors is the most bearish since last June.
• The Middle East conflict, which began Feb. 28, has triggered a spike in oil and natural gas prices.
• Despite the potential “contrarian positive” signal, the strategists cautioned this was not a “close-eyes-and-buy” situation for markets.