Over the past two decades, betting against Canadian banks stocks has been a suicidal investment strategy. Monday’s downgrades by Moody’s signal a new longer-term economic backdrop less amenable to outsized bank profit growth.
The Globe and Maiil's Sean Silcoff is completely accurate in his assessment that in the short term, lowering the banks’ credit ratings will have next to no impact on investors. It is also true, however, that the secular trends underlying long-term bank profits have run their courseReport Typo/Error
- Toronto-Dominion Bank$63.04-0.53(-0.83%)
- Bank of Nova Scotia$75.64-0.53(-0.70%)
- Royal Bank of Canada$93.00-0.53(-0.57%)
- Bank of Montreal$91.98-3.15(-3.31%)
- National Bank of Canada$53.25-0.62(-1.15%)
- Canadian Imperial Bank of Commerce$106.30-0.65(-0.61%)
- Updated May 24 4:00 PM EDT. Delayed by at least 15 minutes.