The Globe and Mail reports in its Tuesday, June 23, edition that shares of the Big Six Canadian lenders are up an average of 67 per cent over the past year, or 74 per cent once dividends are factored in. The Globe's Tim Kiladze writes that over the past 12 months Canadian banks collectively reported $71-billion in net income, up 14 per cent from the year prior, and a number of them have posted returns on equity that are world class. Banks are benefiting from hot, volatile markets. Their wealth management improves with rising markets, trading desks thrive on changing U.S. policies, and investment banking generates more fees from public offerings and acquisitions. Bank shares have surged an average of 29 per cent since the start of the year, making Canada's largest lenders resemble meme stocks, like Nvidia. National Bank analyst Gabriel Dechaine says Canada's banks have handled everything that's been thrown at them so far. He says, "As much as people say the banks shouldn't trade where they are, critics have a hard time explaining what could derail them." Baskin Wealth's Barry Schwartz notes that Goldman Sachs and Morgan Stanley are trading in the same range. He says, however, that "expectations should be tempered."