Strategists at Barclays and Morgan Stanley are recommending investors hedge against a potential market drop. The concerns are piling up between the ongoing war in Iran, a weak jobs report showing 92,000 cuts in February, and stress in the private credit market. BlackRock and Blackstone have both limited withdrawals from major private credit funds as investors try to pull cash. There is concern that the sector is due for a default cycle. Oil prices are rising due to the geopolitical conflict. JPMorgan analysts noted this could push inflation higher and force the Fed to slow down easing or potentially hike rates again. In other news, SoftBank is looking for a $40B loan to finance its OpenAI investment, and Toyota Industries is set for a massive buyout deal in Japan.