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Biggest 10 Banks’ Commodities Revenue Rises 26%

Commodities revenue at the 10 largest investment banks rose to a two-year high in the first quarter even as companies from JPMorgan Chase & Co. to Barclays Plc shrank operations, according to analytics company Coalition Ltd.

Raw-materials revenue at Goldman Sachs Group Inc., Morgan Stanley and the other companies making up the top 10 banks jumped 26 percent to $1.8 billion, the highest since the first three months of 2012, Coalition said in a report today. Only commodities showed growth as revenues in other areas from rates to emerging markets declined, the report showed.