Commodity prices will also be drawn by the negative economic growth, Edwards said. Oil has slid over the past month, with Brent crude dipping 7.8% to $107 a barrel and WTI crude falling 10% to just under $105 a barrel.
“I still see commodity prices plunging,” Edwards said. He noted that the asset class entered a bear market during the 2008 recession when the price of a barrel of WTI crude oil fell $133.88 to $39.09 in under a year.
