Royal Bank Of CanadaShort
RY
Intermediate target is $80. Long term is $20.
Earnings for Canadian banks is in late August. With the pressure the BoC is placing on Canadian homeowners, already declining home prices, in addition to unrelenting inflation this earnings season could spur a massive wake-up call throughout the Canadian economy.
It appears the BoC intends to lift rates 350bps by years end. This comes with the potential of triggering fixed payment variable-mortgages, of which account for over 40% of total Canadian mortgages.
Characteristics of a Massacre.
Earnings for Canadian banks is in late August. With the pressure the BoC is placing on Canadian homeowners, already declining home prices, in addition to unrelenting inflation this earnings season could spur a massive wake-up call throughout the Canadian economy.
It appears the BoC intends to lift rates 350bps by years end. This comes with the potential of triggering fixed payment variable-mortgages, of which account for over 40% of total Canadian mortgages.
Characteristics of a Massacre.
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