RE:TD Upgrade Mar 26 Great insight, thanks for posting. Sean at TD has been a notorious laggard so it's interesting he's... well not advancing just keeping up now. I suspect more forward thinking guys (CIBC, RBC and BMO) will have a far more major set of hikes planned soon.
Sean's math is still highly improbable. To hit $710 lumber in 2021, granted much more likely than $590, there are still great contortions needed. We have to drop ASAP to $553 and stay there for the balance.
I mainly follow TDs take on Reaolute which has been finally upped from Hold, but Sean has been blisteringly and intransigently wrong in each and all of his past 6 targets. Each one was blown out of the water and his new one is unlikely to be different. He's seemingly unable to get ahead of this which is going to make him a brilliant sage if it implodes or just look foolish and out of touch if not. That's a pretty binary outcome which isn't great. RBC plays it so much smarter and more agile it's a masterclass really.