Shares of BMO are down more than 5% again today, and the shares are closing in on a 5 year low. BNS, Commerce, Royal and TD are off 2% or more as well.
The backdrop? SIVs (BMO, Commerce), ABCP, (BNS, Royal), credit derivatives and re-insurance (CIBC, Royal, etc.), impending U.S. recession (BMO, TD, Royal), [...]
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