|Bid||58.47 x 0|
|Ask||58.49 x 0|
|Day's Range||57.37 - 58.82|
|52 Week Range||49.01 - 77.96|
|Beta (5Y Monthly)||0.70|
|PE Ratio (TTM)||8.87|
|Earnings Date||May 28, 2020|
|Forward Dividend & Yield||3.16 (5.55%)|
|Ex-Dividend Date||Apr. 08, 2020|
|1y Target Est||66.08|
(Bloomberg) -- Leaders in the euro area need to make its widely-touted recovery fund a reality to revive the fortunes of its battered currency.The euro’s comeback was threatened after the so-called frugal four -- Austria, Denmark, Sweden and the Netherlands -- countered a joint proposal by France and Germany for a 500 billion euro ($548 billion) fund by suggesting aid in the form of loans, not grants.“The euro’s road to recovery will likely be bumpy as markets assess the scope for the commission to come up with a plan acceptable to all member-states,” Gaétan Peroux, a strategist at UBS Global Wealth Management said in a client note. “Continuing signs of a global and European recovery should eventually open the window to euro-dollar levels above 1.10.”The Recovery Fund proposals have several key elements that would in theory help Europe’s weakest economies: the European Commission would issue the debt, money would be distributed through grants and repayments would come via the EU budget.How much of that makes it into the final plan will start to emerge this week with negotiations beginning formally and the European Commission unveiling its own proposal.The lack of region-wide fiscal framework has long been seen as a thorn in the ambitions of EU leaders to make the euro a stronger rival to the U.S. dollar. The currency weakened to its lowest level in three years in March, when Europe became the epicenter for the coronavirus, with the bloc’s most-indebted nations, including Italy and Spain, suffering severe outbreaks.That same month, five-year Italian credit default swaps -- a gauge of EU breakup risk -- spiked to the highest since 2013, spurred by worries of a another sovereign debt crisis in the bloc. That measure fell to the lowest level in over a month after the Franco-German proposal.“This proposal isn’t a fix of any kind yet,” wrote Kit Juckes, a strategist at Societe Generale SA, in a note to clients. “For now, it’s just something to shake out euro shorts, against the yen as much as the dollar. We will go on bumping along the bottom of the post-2014 range.”Bearishness on the euro was the strongest since 2018, according to Citigroup Inc.’s FX Pain Index for the currency, an indicator of active trader positions. It’s a sign to some analysts that a so-called short squeeze is looming.Sure enough, while one-week risk reversals on the euro-dollar pair eased since hitting the highest since March last week, it still shows a preference for the common currency, which rose as much as 0.7% to $1.0980.“It is only one step and more will be required,” said Ned Rumpeltin, European head of foreign-exchange strategy at Toronto-Dominion Bank. “If it is able to get across the line with the other EU members, it does represent an important step forward.”(Updates prices throughout)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Bank stocks have not experienced the same type of market rebound that many other TSX companies have over the past two months. Still, with lots of growth ahead, here’s why TD Bank is a strong buy today.The post Got $5,000? Now Is the Time to Invest in This Bank Stock appeared first on The Motley Fool Canada.
Seniors are finally getting due recognition with the one-time boost in OAS and GIS benefits. However, retirees will have more financial security if there is other income from Dividend Aristocrats like the Toronto-Dominion Bank stock.The post $500 OAS and GIS One-Time Boost: Do You Qualify? appeared first on The Motley Fool Canada.
We asked our writers for their top stock picks from the financial sector. Some of the picks include Toronto-Dominion Bank (TSX:TD)(NYSE:TD), goeasy Ltd (TSX:GSY), and TMX Group Ltd (TSX:X). The post Top TSX Financial Stocks for June 2020 appeared first on The Motley Fool Canada.
There's a strong opportunity to buy up bank stocks during this market crash, and this one provides the best chance at $1,000,000.The post Market Crash: Turn $60,000 Into $1 Million Right Now appeared first on The Motley Fool Canada.
The two primary types of tax-free investment vehicles in Canada have significant differences that could have an impact on you next tax season.The post Where Should You Be Parking Extra Cash This Year: TFSA or RRSP? appeared first on The Motley Fool Canada.
If you have some cash on hand, or are thinking of selling, consider these three top stocks for your TFSA contribution room.The post 3 Top Stocks to Buy With $6,000 appeared first on The Motley Fool Canada.
This top financial stock appears oversold right now and offers a solid 5.5% dividend yield.The post TFSA Investors: 1 Top Income Stock to Help Retirees Avoid OAS Clawbacks appeared first on The Motley Fool Canada.
TD (TSX:TD)(NYSE:TD) stock looks attractive after this year's pullback, but a deepening economic crisis is keeping investors on the sidelines.The post TFSA Retirement Fund: Is This the Right Time to Buy TD (TSX:TD)? appeared first on The Motley Fool Canada.
(Bloomberg) -- Elevator queues, mandatory masks and staggered start times may await Toronto’s office workers when they start venturing back to North America’s second-largest financial center.These are among the measures Cadillac Fairview Corp. Ltd. is pursuing as the commercial property firm prepares for a “measured” return of workers to downtown buildings. The company is landlord to some of Canada’s largest banks as the owner of office towers such as TD Centre and RBC Centre.“It’s going to be a gradual but steady climb back to normalcy,” Sal Iacono, Cadillac Fairview’s executive vice-president of operations, said in an interview.Ontario has been easing restrictions on business as the Covid-19 pandemic, which has killed nearly 2,000 people in the province, finally eases.Office workers should brace for dramatic changes, with numerous precautions to protect them and the public. Cadillac Fairview, which is owned by the Ontario Teachers’ Pension Plan and oversees 70 properties in Canada including the Toronto Eaton Centre shopping mall, is just one of the city’s large landlords adopting new measures to make returning to work safe.Elevators will have limits of four people and Cadillac Fairview plans to add thin anti-microbial film over the buttons. It’s looking to introduce digital apps so people can schedule their elevator rides instead of waiting in line, Iacono said, “so that you know with certainty that you’re not going to have to wait a long time in order to be able to access your floors.”Shift WorkThe company is also working with tenants on ways to stagger start and end times for employees to avoid crowding in lobbies and common areas.“In order to be able to allow the maximum number of people to come into those office buildings, we’re going to have to change our behaviors for a period of time,” Iacono said.Building occupants at Cadillac Fairview office properties will be required to wear non-medical face masks or coverings in elevators and they’ll be “strongly encouraged” to wear them in common areas, including the underground PATH network that links downtown office buildings in Canada’s largest city.Commercial landlords including Brookfield Properties and Oxford Properties Group have already put down social distance markings and signage throughout downtown. But the many bankers, investment managers, accountants and lawyers who typically populate Toronto’s cluster of skyscrapers likely haven’t seen them yet due to weeks of working from home.In the depths of the pandemic shutdown the number of people in office buildings were no more than 5% to 10% of normal levels, Iacono estimated. He got a first-hand look at how the city’s core has become a ghost town a couple weeks ago during a visit to his office by the shuttered Eaton Centre to sign some paperwork.“The mall under normal circumstances has 53 million people a year going through it, so to see Toronto Eaton Centre as empty as it was on the day that I was there was a little dystopian,” he said. “I took the elevator up to my office and we had two people on our floor.”Even with restrictions easing, Iacono doesn’t anticipate a rush back to the office. Ontario has kept schools and daycares closed, which means a slow return for many workers.In markets that have reopened, Iacono is seeing between 15% and 30% of office workers returning at first, with that percentage increasing over time.“I try to dispel the notion that on the first day that the government lifts restrictions in the market that everybody shows up back at the office all at the same time like any normal day pre-Covid,” he said. “That’s not going to be the case.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Canada’s six-biggest banks are poised to set aside C$8.9 billion ($6.4 billion) for souring loans in the fiscal second quarter -- a record amount that will wipe out more than half the industry’s profits.The total is the average estimate of five analysts who attempted to calculate potential loan losses through a fog of uncertainty caused by the coronavirus pandemic and plunging oil prices. The total is three times higher than the first quarter and will be the key reason Canada’s biggest banks will see profits plunge in the period ended April 30 when they report results next week.The six large lenders are expected to post a 44% earnings decline for the second quarter, the median of estimates compiled by Bloomberg Intelligence. That would be the biggest drop in 11 years, when banks were sideswiped by a global financial crisis.“It’s going to be bad -- they’re going to be taking big allocations and provisions,” Craig Basinger, chief investment officer for Richardson GMP, said in an interview. “We’re not overly concerned on that side, but we just think the negative news is going to probably keep weighing them down in the near term.”Government relief efforts and measures by banks such as mortgage deferrals and lower credit-card interest rates may just be delaying the reckoning: the mortgage reprieve, for example, kicked in in late March and was good for six months.A sharp spike in reserves, though, would show how worried banks are for Canadian households and businesses as they emerge from the pandemic and into recession. New accounting standards adopted by the industry in late 2017 require banks to forecast the likelihood of good loans going bad.This quarter’s jump in provisions may be three to four times higher than a year ago and will be mostly for loans that have yet to go bad, according to Bloomberg Intelligence analyst Paul Gulberg.Widespread Impact“Reserves build will span across borders and impact both commercial and retail loans,” Gulberg said in an interview. U.S. bank earnings pointed to elevated provisions over the next two to three years, implying the same possibility for Canada, he said.Toronto-Dominion Bank already gave a window into how bad things will get -- at least in the U.S., where it has a branch network that stretches from Maine to Florida. Canada’s second-largest lender by assets expects to record about C$1.1 billion in loan-loss provisions for its U.S. retail division, according to May 8 disclosures. The bank also said it will set aside C$600 million tied to U.S. credit cards that consist primarily of its retailer partners’ share of provisions, though those are offset and won’t affect earnings.Equity investors have already made up their minds that things will get ugly. Bank stocks have plunged 25% this year, double the decline in the benchmark S&P/TSX Composite Index.National Bank of Canada analyst Gabriel Dechaine says investors will likely come back when credit deterioration has peaked. “We believe it is still too early to make that call, and the only way to gain confidence in it is to assess the progress of Canadian economic re-opening,” he said in a May 14 report.For Cormark Securities analyst Meny Grauman, the main question for investors is whether they should buy the dip -- a strategy that worked well as the economy recovered from the global financial crisis. “The answer to that question is tied to the nature of the Canadian economic recovery, and the bottom line for us is that at this stage the level of uncertainty is very high,” he said.Throwing DartsEstimating provisions for credit losses (PCLs) is “like throwing darts”, according to Desjardins Securities analyst Doug Young.“The banks are in a ‘damned if they do, damned if they don’t’ position,” Young said in a May 12 note. “Report PCLs and allowances that are too low and the market will be skeptical and will likely assume that more hits will come in future quarters. Record sizeable increases and some may wonder what management sees behind the scenes.”Barclays Plc analyst John Aiken expects Canada’s eight largest publicly traded banks to set aside C$14 billion for performing loans that may go sour over the next two quarters, though he doesn’t anticipate that such a “large” number will translate into negative earnings in what he expects to be a “difficult” earnings period for the industry.“We believe the quarter will showcase a difficult earnings environment, underscored by a jump in credit losses, intensifying margin pressures, more challenged and slower loan growth, and varied but lower expense levels,” Aiken said.Reporting Dates:May 26: Bank of Nova Scotia and National Bank of CanadaMay 27: Bank of Montreal and Royal Bank of CanadaMay 28: Canadian Imperial Bank of Commerce and Toronto-Dominion BankMay 29: Laurentian Bank of Canada and Canadian Western Bank(Lists when banks report at end.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Toronto-Dominion Bank (TSX:TD)(NYSE:TD) and one other stock are likely to provide steady wealth creation for years to come.The post 2 Strong TSX Stocks for Super Long-Term Investing appeared first on The Motley Fool Canada.
(Bloomberg) -- Oil posted its longest streak of gains in more than a year, buoyed by output cuts across the globe that have whittled away at a stubborn supply glut.Futures climbed 1.3% in New York. U.S. supply data showed crude inventories fell for a second week after climbing steadily since January and stockpiles at the storage hub at Cushing, Oklahoma declined by a record. OPEC and its allies are reducing output and IHS Markit Ltd. says U.S. oil producers are also curtailing about 1.75 million barrels a day of existing production by early June.“There is a lot of narrative out there that the rebalancing is going to come quicker and will be more aggressive than we thought,” said Bart Melek, head of commodity strategy at Toronto Dominion Bank.Oil’s rally this month into the $30-a-barrel range raises the possibility that shale producers may slowly start to turn on the taps again after futures plunged into negative territory in April, leading to layoffs across the energy industry, a slowdown in drilling and deep declines in the number of oil rigs in operation. Goldman Sachs Group Inc. said U.S. shale will emerge from the current slump as a lower growth and more cash generative industry, while consolidation will concentrate the number of players in the sector.While the large decline in stockpiles at Cushing, the delivery point for WTI futures, indicates the supply glut is starting to ease, a surprise increase in U.S. gasoline inventories last week reflects underlying demand weakness in the world’s largest economy. The economic outlook remains uncertain with another 2.44 million Americans filing for unemployment last week, Labor Department figures showed.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Toronto-Dominion Bank (TSX:TD)(NYSE:TD) stock has struggled along with its peers, but I like TD Bank as a buy-the-dip opportunity for long-term investors.The post ALERT! TD Bank (TSX:TD) Stock Is a No-Brainer Buy appeared first on The Motley Fool Canada.
For TFSA investors, there are stocks offering long-term value. Find out which TSX stock could generate great total returns today.The post TFSA Investors: 1 Stock to Buy With $6,000 appeared first on The Motley Fool Canada.
There are a number of tax breaks you should be looking out for from the CRA, and here are two stocks to take advantage of with that extra cash.The post CRA Tax Breaks: 2 Perfect Buys appeared first on The Motley Fool Canada.
TD (TSX:TD)(NYSE:TD) looks like the best bank for your buck, even in the middle of one of the worst crises in history.The post TD (TSX:TD) Is a Screaming Buy Today appeared first on The Motley Fool Canada.
TORONTO , May 19, 2020 /CNW/ - The Toronto-Dominion Bank ("TD Bank Group" or "TD") announced today that it intends to exercise its right to redeem on June 24, 2020 (the "Redemption ...
Consider investing in the Toronto-Dominion Bank stock as you take advantage of the CRA tax delays.The post CRA Tax Deadline Moved: Time to Add These 2 Tax Deductions appeared first on The Motley Fool Canada.
The TFSA is a one-of-a-kind wealth builder. You won’t pay taxes by following the rule. Keep a blue-asset like the Toronto-Dominion Bank stock, and you will earn tax-free for life.The post This Is the Biggest Mistake You Need to Avoid in Your TFSA appeared first on The Motley Fool Canada.
High quality bank stocks like TD Bank (TSX:TD)(NYSE:TD) are still on sale. What are you waiting for, long-term investors?The post Buy Alert: This High-Quality Bank Stock Is Still Down 30% appeared first on The Motley Fool Canada.
There are a lot of value stocks out there, but these two offer the best chance at significant growth both near and far.The post 2 Value Stocks Too Cheap to Ignore appeared first on The Motley Fool Canada.