December: Market Backdrop and Investors

december: The CIBC bank logo is seen Tuesday, June 21, 2016 in Montreal, according to The Toronto Star. Paul Chiasson / THE CANADIAN PRESS All Big Five banks were hampered by the challenging market backdrop during the quarter, particularly in December, which stemmed from a variety of concerns including the U.S.-China trade skirmish and Brexit that kept investors on the sidelines. TD's wholesale banking unit recorded a 17 million net loss during the period as CIBC's capital markets division saw a 38 per cent year-over-year earnings decline. Capital markets' earnings certainly took a hit, said Robert Colangelo, the senior vice-president of financial institutions at ratings agency DBRS. I think this is first time I've seen TD with a loss in that segment... But overall, obviously, the markets were very challenging, and showed in the declines that we saw. The Bank of Montreal's earnings during the quarter were up eight per cent from a year ago, blowing past market expectations, while Royal Bank of Canada's profits were in line, up roughly five per cent from a year ago. Article Continued BelowCIBC on Thursday reported 1.18 billion in net income for the quarter ended Jan. 31, down 11 per cent from the same period a year earlier while TD reported a 2.4 per cent uptick in financial first-quarter profits. (news.financializer.com). As reported in the news.