Just four months ago, Canadians were falling out of love with their beloved bank stocks. By the end of May the S&P/TSX Bank Index was up just 3 per cent on the year, while the S&P 500 had soared 17 per cent.
How times have changed.
Now bank stocks are soaring, with three of the Big Six banks recently hitting all-time highs. They’ve since slipped a tiny bit, but Royal Bank of Canada, Toronto-Dominion Bank and National Bank of Canada are all in new territory. (The others are faring well, too.)