Freeland's new hidden tax on banksIn Freeland's last budget release, the Liberals and their evil minions decided that they would introduce new taxes on banks and financial institutions.
The want to tax the divididends they receive from their investments separately from their usual ''corporate" tax.
This boils down to taxing them twice, on the same income and would have direct negative influence on the distributions and dividends paid out by the banks to investors.
This may be why banks are lagging??? or at least one of the reasons.
The real estate bubble, especially for industrial and corporate real estate is looming as well.
I wouldn't be surprised to see a very limited increase in the price of bank stocks/bonds and just move sideways for the rest of the year, with a very slight increase in NAV and price.
GLTA the good folks here