Don’t buy Td Things are going to get ugly for the big banks this year. If you are a student of history, you know it's never a good idea to own financials when the economy is contracting and in recession territory. A few reasons why you shouldn't own banks just yet.
1) yield curve is still inverted - banks borrow money short term and lend money long term. It is just as expensive to borrow short term (or almost) as it is to lend long term.
2) provision for credit losses will increase and I believe is currently understated with more mortgage rollovers to be expected in 2024.
3) Canada's recession is already underway and job losses are going to increase.
4) Financials are one of the worst performing sectors during a recession.