U.S. bank results do not bode well for Canada’s Big Six

Bank towers are reflected in a window in the financial district of Toronto

A \”lacklustre\” bank earnings season in the U.S. doesn\’t bode well for Canada\’s biggest banks, says John Aiken, analyst at Barclays Capital Markets.

\”With the ‘Big 6’ already experiencing robust capital markets gains last quarter, we feel the few positive factors driving the conclusion for the U.S. banks, are unlikely to hold over north from the border,\” Aiken said inside a note to clients.

\”Further tempering our outlook for Q2, sequential top line and EPS growth for the U.S. banks remained relatively modest, weighed by higher loan loss provisions, and continued margin pressures.\”


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