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The subdued market reaction was a sign that bond investors were taking democracy Italian-style in stride, he said.
Barclays will close four business divisions, while an additional 17 units will be closed, sold or pared back in response to subdued market activity, Mr. Jenkins said.
Halifax paints a weaker picture of house price growth than other reports but most indicators used by economists point to a subdued market.
A government auction of $12 billion of five-year notes as part of its quarterly refunding of debt did little to stir interest in a subdued market.
In part, this subdued market reaction reflected that OPEC leaders had been talking about reducing production for two weeks, after crude oil futures prices fell as much as 30percentt in December.
The lack of mortgage finance is still being blamed for the subdued market.
Similar(54)
"It remains a difficult trading environment for a small bank dependent on retail funding, with a combination of low interest rates, subdued mortgage market demand and high competition for retail savings," Sandler added.
One factor was subdued capital-markets activity, caused by Europe's debt crisis and the stockmarket "flash crash" in May.
Mortgage approvals also fell to a 7-month low, as affordability problems and an interest rate increase combined to subdue the market.
It said demand for new plants had slowed in emerging markets, and remained "subdued" in mature markets.
If there is a desire to keep prices at the top end of the market subdued, alternatives should be investigated.
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