Monday, November 20, 2017

© Reuters.  Steve Eisman: CIBC most at-risk in upcoming Canada housing slump© Reuters. Steve Eisman: CIBC most at-risk in upcoming Canada housing slump

  • “Canada is not going to crash, but it hasn’t had a credit cycle in 25 years,” Steve Eisman tells Bloomberg. “I think they’re about to have one.”
  • Now a fund manager with Neuberger Berman, Eisman – of “The Big Short” fame – says new regulations being put in place are going to slow mortgage volume next year, thus leading to lower prices.
  • Of the country’s lenders, CIBC (CM -0.3%) is most exposed, says Eisman. He’s not foreseeing “death and destruction,” but instead declining earnings.
  • Now read: Recent Buy – Canadian Imperial Bank Of Commerce

Original article

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