Barclays’ third-quarter results are likely to reveal pressure on fixed-income revenues following a negative trading update on the business, an outcome likely to be echoed across Europe’s largest banks.

When disclosing its rights issue prospectus yesterday, the UK bank disclosed that fixed income, currencies and commodities revenues have been on a downward trajectory since July, contributing to a 5% dip in group profits in the eight months to the end of August. The negative effect from fixed income was partially offset by revenue growth in equities and prime services.