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Beaten-down U.S. banks may have edge on Big Six Add to ...

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This will sound heretical at first but there are good reasons for Canadian investors to increase holdings of U.S. banks at the expense of domestic bank portfolio weightings.

The relative health of U.S. and Canadian household credit conditions is the key factor. Canadians have packed on debt, which now stands at a record 163 per cent of disposable income. Americans, primarily because they were able to walk away from mortgage debt without penalty after the financial crisis, are also setting debt records – record lows.

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