Biggest Banks' Commodity Revenue Hits Lowest in Over Decade
- Income collapses by two-thirds from 2008 peak, analysis shows
- Revenue affected in 2015 by gas, power and metals performance
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Revenue from commodities at the largest investment banks sank to the weakest in more than a decade last year, laid low by a rout in prices for everything from metals to gas.
Income at Goldman Sachs Group Inc., Morgan Stanley and the 10 other top banks slid by a combined 18 percent to $4.6 billion, according to analytics firm Coalition Ltd. That was the worst performance since the London-based company began tracking the data 11 years ago, and a slump of about two-thirds from the banks’ moneymaking peak in 2008.