ThesisBank of Nova Scotia: the story is balanced — Net interest margin expansion/compression driven by Bank of Canada and Latin American central bank rate decisions
value and dividend - Scotiabank trades at discount to Canadian peers (1.5x P/B vs 1.8-2.0x for RY/TD) due to Latin American exposure…
Positive sensitivity to rising rates in the near-term through net interest margin expansion…
Watch on earnings: Bank of Canada overnight rate and forward guidance on monetary policy trajectory, Canadian unemployment rate and housing starts as leading indicators for mortgage demand and credit quality, Mexico, Peru, Chile, Colombia GDP growth rates and central bank policy rates.
One Sentence Summary:
Bank of Nova Scotia: the story is balanced — net interest margin expansion/compression driven by bank of canada and latin american central bank rate decisions.
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