Institutional investors retreat from sector after broad price falls over past 12 months
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Investor sentiment toward commodities has weakened markedly, dropping 17 percentage points over the past two months, the steepest deterioration since August 2015, according to BofA. “This combination of lax commodity sanctions on Russia and less money in the [global financial] system has contributed to a major commodity price pullback,” Mr. Blanch says.
Mr. Wrigley says he expected China’s government to introduce limited new measures to support economic growth, but he cautioned that policymakers in Beijing remained wary of the risk of creating another debt hangover if they pursued another major stimulus program on the same scale as the response to the 2007-08 global financial crisis.
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