The Daily Chase: CIBC reports earnings beat; Survey examines mortgage fraud in Canada

CIBC is kicking off Canadian bank earnings season with a beat, albeit a somewhat muted one.

TSX LOSING STREAK HITS FIVE DAYS

Sort of an inauspicious run for Toronto’s benchmark stock exchange – five straight sessions of losses, though those have abated to some degree (yesterday, it was incremental – down all of five points.) Still, the two per cent and change selloff hasn’t spared many souls – 185 of the benchmark’s 236 constituents are lower over the course of those five sessions, and the damage is clearly in those rate-sensitive tech names. To wit, Shopify is the lead laggard, down the better part of 20 per cent over that stretch (not far behind – Lightspeed Commerce, down 13 per cent.)

WHAT’S A BIT OF LIGHT MORTGAGE FRAUD AMONG FRIENDS?