Canadian consumer lending shrinks

Canadian consumer credit data has taken a hit in the past few months, as research shows consumer lending tightening. According to The Calgary Herald, the nation's largest banks, including Scotiabank and Bank of Montreal, are scheduled to report their quarterly results this week. However, the reports are forecast to be potentially make up one of the shortest earning periods on record. Yet some experts suggest that a truncated earnings period could actually be an opportunity for financial executives. Stonecap Securities analyst Brad Smith explained to the newspaper that it could help executives come to grips with some of the year’s setbacks quicker. "While we do not think ourselves superstitious, we do believe that, in general, good news is best savored slowly while bad news is best delivered quickly," Smith wrote in a note quoted by the newspaper. Canada's lending sector may be facing difficulties, but its neighbor to the south is seeing improvement. However, as markets continue to be volatile, research and reports may be best taken with a grain of salt.