JPMorgan is downgrading its stance on commodities in general to Underweight. The firm believes...

|By:, SA News Editor

JPMorgan is downgrading its stance on commodities in general to Underweight. The firm believes the Supercommittee's failure to reach a deal represents a blow to "confidence in the U.S.' seriousness of purpose," and thus raises the risk of another credit rating cut. Moreover, JPMorgan is worried about a rapidly deteriorating environment for industrial metal and crop prices. (yesterday)