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Barclays First-Quarter Profits Fall After Fixed Income Revenues Crash

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http://uk.reuters.com/uk.reuters.com/article/2014/05/06/uk-barclays-results-idUKKBN0DM06Y20140506

Barclays' profits fell 5 percent in the first quarter from a year ago after revenues fell in its fixed income business more steeply than at most rivals.

The British bank will announce on Thursday details of a plan to shrink its investment bank, and it said a change in business mix as part of that review had contributed to a 28 percent tumble in investment bank revenues.

That helped knock adjusted profit before tax in the three months to the end of March down 5 percent from a year ago to 1.69 billion pounds ($2.85 billion).

They just need a good BTL portfolio simples!

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Sounds liek they are losing the game of banking to goldman. One banks loss is another banks profit - it's a zero sum game.

I'd think a lot of this is down to reduced trading volumes in the market as a whole. As such no one on the other side making the money they've lost.

Edited by terryturbojr

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I'd think a lot of this is down to reduced trading volumes in the market as a whole. As such no one on the other side making the money they've lost.

I think it is down to investors not wanting to buy into fixed income products because interest rates are about to rise. Barclays is mainly a bond booze so it particularly suffers.

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https://uk.finance.yahoo.com/news/barclays-investment-bank-drags-profits-061315174.html

'It confirmed profits of almost £1.7bn as its Fixed Income, Currencies and Commodities (FICC) operation, contained within the investment bank, delivered a 41% fall in income on the same period last year.

The bank blamed the decline on subdued client activity and changes to its business mix - reforms that are due to be announced on Thursday when the results of a strategic review are made public.

The review of the investment operation could include thousands of job losses and the creation of an internal 'bad bank'.'

So does that mean they'll take the losers and sell them to themselves?

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