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Citigroup Is ‘bullish on commodities’ for 2017 as Brexit to fade

SHANGHAI – Forget Brexit, go for raw materials. Citigroup Inc. says that it’s bullish on the outlook for commodities in 2017 as the impact of the UK’s vote to quit the European Union will fade, global growth chugs along and investors will plow more cash into funds. “Citi is especially bullish commodities for 2017,” analysts led by Ed Morse wrote in an note received on Monday, two months after the New York-based bank said that raw materials’ markets had turned the corner. “Citi economists see the damage to global growth from Brexit to be limited in extent and duration in 2016, while stronger growth from China and the US should lift global growth for the rest of the year.”