B Of A Securities analyst Ebrahim H. Poonawala revised the rating on several Canadian Banks amid a declining rates scenario.
The analyst says the rapid decline in interest rates (5yr yield -120bp since Oct high) lowers the probability of tail risk events posed by a higher for longer scenario.
Companies Reporting Before The Bell
• 111 (NASDAQ:YI) is projected to report earnings for its third quarter.
• Frontline (NYSE:FRO) is expected to report quarterly earnings at $0.45 per share on revenue of $249.41 million.