New York
EVEN with commodities mired in the worst slump in a generation, Goldman Sachs Group Inc, Morgan Stanley and Citigroup Inc are warning bulls that prices may stay lower for years.
Crude oil and copper are unlikely to rebound because of excess supplies, Goldman predicts, and Morgan Stanley forecasts that weaker currencies in producing countries will encourage robust output of raw materials sold for US dollars, even during bear markets. Citigroup says the sluggish world economy makes it "hard to argue" that most prices have already bottomed.
The Bloomberg Commodity Index on Sept 30 capped its worst quarterly loss since the depths of the recession in 2008.
The economy in China, the biggest consumer...
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