Factbox: Wall Street and commodity risk - Morgan Stanley measure slips

The VaR is a risk-reward indicator that measures the commodities exposure of Wall Street banks. Earlier Wednesday Morgan Stanley reported better-than-expected quarterly results boosted by bond trading revenue. Fixed income and commodities sales and trading net revenues totaled $1.3 billion, up from $873 million in the prior quarter and almost unchanged from last year, even after selling its oil merchant business in the fourth quarter of 2015.