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Bank of Nova Scotia
Symbol C : BNS
Shares Issued 1,227,821,621
Close 2018-12-04 C$ 71.67
Recent Sedar Documents

Globe says Big Six banks seen as way to play defence

2018-12-05 08:30 ET - In the News

See In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Wednesday edition that financial markets have been in convulsions lately. The Globe's Tim Shufelt writes that the vacillation between fear and confidence with little warning is itself a sign that the bull market is in its later stages, said Ian de Verteuil, head of portfolio strategy for CIBC World Markets. "This is typical late-cycle behaviour and makes a structured equity investing approach more difficult," Mr. de Verteuil said. "We continue to believe investors should take a defensive investment posture into year end, and through 2019." Playing defence can be challenging. The pockets of the stock market where investors have historically found refuge have been in sectors with some built-in resilience to economic recession, such as consumer staples, utilities and telecoms. So where to seek shelter in Canada? A sampling of strategist recommendations points to the banks. Canada's banks have developed a strong record of proving resilient to stressors -- everything from the global financial crisis to the downturn in house prices. "Canadian banks as a rule are defensive," Mr. de Verteuil said. "I wouldn't say that about banks in general but I will say that about Canadian banks."

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