HSBC got the season off to a mixed start on Tuesday and attention will focus on Barclay's investment bank arm (Lehman Bros in effect) and if it can continue its recent good performance. Activist investor Sherborne has previously tried to get the bank to divest the business to no avail so far, but any trip-ups and the issue might raise its head again. As a comparison, Goldman Sachs (NYSE:GS) posted better than expected results helped by a good fixed income performance at its trading operations offsetting the drying up of IPOs and M&A activity and how the mix pans outs at Barclays will be worth noting.