BlackRock Sees More Commodity Pain on Slowing China, Dollar
- `We’re still unfortunately heading lower,' Koesterich says
- Raw material prices trading near lowest level since 1999
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The world’s largest money manager says that the worst commodity selloff in a generation still has room to run.
“We’re still unfortunately heading lower,” Russ Koesterich, global chief investment strategist at BlackRock Inc., said in a Bloomberg TV interview. “We’re seeing a slowdown in demand as the global economy slows, particularly commodity-intensive economies like China.”