Commodities revenue at the 10 largest investment banks dropped 18 percent last year, according to analytics company Coalition Ltd.
Revenue dropped to $4.5 billion from $5.5 billion in 2012, Coalition said in an e-mailed report. In November, the company anticipated a 14 percent drop in revenue.
“Revenues continued to decline, affected by a depressed client environment and low volatility,” Coalition said. “In 4Q13, performance in U.S. power and gas was particularly weak.”