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Wall St falls out of love with commodities trading

Posted on 05 August 2013

Blythe Masters was triumphant. The JPMorgan Chase executive had just sealed a deal that would propel her bank to the top of Wall Street’s commodities league table.
JPMorgan paid $1.7bn and assumed $3.3bn in debt to buy the global oil, gas, coal, power and metals businesses of RBS Sempra Commodities, a trading venture. While JPMorgan was strong in commodity derivatives, Sempra was at root a physical house moving molecules through a storage and warehousing network stretching from Baltimore to Singapore………………………………………..Full Article: Source


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