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Commodities Briefing - Categorized | Financial, Performance more

Goldman leads decline as Wall Street commodity revenues plummet

Posted on 12 March 2013

Wall Street commodity revenues crashed last year to their lowest on record, as tighter regulation and limited price swings squeezed the once dominant traders of Goldman Sachs Group Inc, JPMorgan Chase & Co and Morgan Stanley.
All three firms reported double-digit percentage declines in revenues for oil, grains and copper trading in 2012, illustrating how the one-time ‘Wall Street Refiners’ have withered in the face of subdued markets and restrictions on proprietary trading. The decline is most stark at Goldman, where commodity revenues collapsed by more than 60 percent year-on-year in 2012 to just $575 million, according to the bank’s annual report………………………………………..Full Article: Source


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