Ian de Verteuil an analyst at Nesbitt Burns recently
cut Scotia Bank (BNS.to) to an underperform which sent down the stock about 6 % and being my largest bank holding put a dent into my portfolio.This downgrade made me a little
worried about the banks
dividends, so far no Canadian bank has
cut or made any indication
of cutting their
dividend, but the high yields (as high as 10 % on some) causes some
worry.