Barclays PLC (NYSE:BCS) (LON:BARC)’ second-quarter drop in FICC revenues by 22 percent year-on-year is only temporary, according to Citi Research in a recent report.
Andrew Coombs and team at Citi Research forecast a rebound in Barclays PLC (NYSE:BCS) (LON:BARC) FICC revenue to £6.22 billion in 2014, as the analysts don’t anticipate the 2Q and 3Q 2013 rate environment to prevail in 2014.
FICC performance screens poorly on leverage
Citi analysts observe Barclays PLC (NYSE:BCS) (LON:BARC) reporting weak second quarter drop in FICC is accentuated by Barclays’ recent update that July-to-August IB revenues were also £0.5 billion lower year-on-year, with weak FICC only part offset by growth in equities and prime services.
Andrew Coombs and team point out Barclays’...
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