Banks tussle to join next generation of commodity dealers
Insurgents increase involvement as major global banks retreat
A sinking feeling has pervaded Wall Street recently. During the past few years, commodity revenues have been falling at major global investment banks. Industry titans such as Deutsche Bank, JP Morgan and Morgan Stanley have decided to quit large parts of the commodities market, or leave it altogether. According to London-based financial analytics firm Coalition, commodities revenue at the top 10 global investment banks fell from a combined $14.1 billion during 2008 to just $4.5 billion during
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