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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CANADA
- From the press release: "Canadian banks’ financial profiles will deteriorate in 2023, albeit from an unusually healthy starting point, as an economic slowdown and tighter financial conditions weigh on asset quality, growth prospects and funding mix, according to Fitch Ratings’ 2023 outlook report.". Full here.
- It follows a mixed Q4 earnings season across the major banks, with sizeable beats (notably TD) and misses (particularly notably CIBC) for adjusted EPS figures rather than a clear cut trend.
- Despite this deterioration in sentiment, banks haven’t seen wildly different share price performance compared to the broader TSX. There is slightly larger underperformance in just the last couple weeks but compared since the BoC’s surprise downshift to a 50bp hike on Oct 26, the bank price index has increased 4.7% compared to 5.5% for the TSX.
TSX60 (white), TSX Banks level 2 index (yellow)Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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