Barclays Capital, the investment banking arm of Barclays Group, this morning said revenues in the second quarter fell 14% compared with the previous three months as a downturn in fixed income currencies and commodities, which has left no bank untouched, took its toll.

BarCap, which typically relies on FICC for two thirds of investment bank revenues, said revenues in the division dropped 22% in the second calendar quarter compared with the first.