March 28, 2023 – Budget Day

On Tuesday markets ended “little changed” with the S&P 500 down 0.2% and Toronto up 0.2%.

There were no particularly notable moves in the individual stocks that I track.

But lululemon was up 12% in after-hours trading after releasing earnings.

Worries about banks continue to be a negative for the markets.

The Budget had little or nothing new for most investors.

Dividend income earned by banks will be taxed as regular income. Banks may well respond by not bothering to hold those dividend stocks.

Canadian Western Bank in its latest quarter had, just $132 million of non-government securities which may have been mainly preferred shares. These amount to far less than 1% of its assets, just 0.3%. This certainly does not appear to eb any big deal for Canadian Western Bank. It may be that this is more of an issue for life insurance companies than banks.


Scroll to Top