RBC CM: Not Yet Time to Buy Bank Stocks Aggressively

RBC Capital Markets, 27 March 2008Bank stocks are up significantly in the last six trading days (Canadian banks 9%, US banks 10%). The reasons for the rally are clear and we highlight them in this report, but we continue to believe that the road ahead for bank shares will be bumpy and do not believe it is time to buy Canadian banks aggressively (especially after a 9% rally over six days).Our