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Opinion for Canadian Imperial Bank of Commerce (CM-T)

Signal Price Bias Subject Owned

It is more of a case of what is going on with the Canadian central bank and what the rate increase will mean for the banks.  The rate increase is positive for them.  They can actually charge more for money, but won’t have to pay any more for it to customers.  The prime mortgage rate went up by a quarter of a percent.  CWB-T has the biggest net impact from this increase.  CM-T will be impacted by rate increases in how they impact the housing market.  Weakness in the industry could be an issue for them.

Brendan Caldwell
President, Caldwell Securities

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