In this edition of Equity Leaders Weekly, we look at the Canadian Financial Sector and the price of Crude Oil. Bank of Canada’s 10 interest rate hikes since last year have slowed the housing market, increased consumer debt, and delayed mortgage repayments forcing banks to set aside more money to protect against potential loan losses.
BEI.UN.TO entered the Favored Zone of the SIA S&P/TSX Composite Index Report early this year on Jan 26, 2023, at a price of $54.64. The shares have held in the Favored zone throughout this time period and now are at $67.78 representing a 24% increase in a less than 8 months time. The shares currently occupy the #11 spot in the report.
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