Merrill Lynch Economists Prognosticate the Direction of S&P/TSX Financials Index

Reuters, Lynne Olver, 18 July 2008The huge recovery posted by Canadian financial stocks this week is actually a bad sign for the sector, as bear markets bring big bounces, Merrill Lynch economists said on Friday.The S&P/TSX Financials index, composed of 28 bank, insurance company and asset management stocks, fell sharply on Monday and again Tuesday, with the country's largest banks hitting 52-