Bank of America Chief Investment Strategist Michael Hartnett noted in his latest report that the current market rally is highly concentrated in AI-related sectors, mirroring the "exact same" pattern as the six months leading up to the dot-com bubble peak in March 2000, when tech stocks surged while other sectors declined. He characterized AI as "the biggest bubble since the railroads" and advised investors to start buying bonds on dips, considering the rise in the 10-year U.S. Treasury yield to 5.33% (a new high since 2002) as a "generational buying opportunity."