Toronto-Dominion And Royal Bank: Buy Canada's Stellar Growth

A.J. Button
12.2K Followers

Summary

  • Canada is currently experiencing positive GDP growth.
  • Real GDP grew at 3.3% in the second quarter.
  • This was likely due to higher commodity prices, especially oil.
  • Canadian banks like TD and Royal Bank profit off the growth of Canada's natural resource sector.
  • These banks' stocks are therefore one way to play Canada's strong growth.

TD Canada Trust bank, located in the Toronto business and financial center

Elijah-Lovkoff

Recently, Canada released its official GDP numbers for the second quarter. Although the numbers missed estimates, Canada nevertheless put out positive growth: GDP was up 0.8% sequentially, and 3.3% year-over-year. In the same period when many Western countries entered

This article was written by

12.2K Followers
Financial journalist. Passed CFA Level 1. Seeking value and dividend growth opportunities, and sharing what I find on Seeking Alpha. Follow me on Youtube and Twitter: twitter.com/AJButton2

Analyst’s Disclosure:I/we have a beneficial long position in the shares of TD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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