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 Big Banks Cash In on Commodities

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Big Banks Cash In on Commodities  Vide
PostSubject: Big Banks Cash In on Commodities    Big Banks Cash In on Commodities  Icon_minitimeFri Jun 03, 2011 5:18 am

Wall Street is tapping a real gusher in 2011, as heightened volatility and higher prices of oil and other raw materials boost banks' profits.

A group of 10 large banks—including Goldman Sachs Group Inc., Morgan Stanley, J.P. Morgan Chase & Co., Citigroup Inc., Bank of America Corp. and Barclays PLC—saw their commodities revenues increase by 55% in the first quarter, according to Coalition, a firm that analyzes the performance of investment banks. After a disappointing 2010, commodities was the fastest-growing segment in banks' fixed-income businesses in the first three months of this year.

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