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