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The Canadian lender's cushion for potential credit losses nearly doubled in the third quarter, while its U.S. business idled.

Economists are also forecasting faster and deeper cuts to borrowing costs over the next year, and see the central bank reducing the policy rate from the current 4.5% to 3% by next July.

The interagency Property Appraisal and Valuation Equity initiative, which was tasked by the Biden administration with rooting out bias in home valuations, appears to have run its course. But experts say it could be years before the group's efforts bear fruit.

Lower interest rates could bolster loan demand, credit quality and securities portfolios. But they could also curb lending profitability faster than they ease deposit costs, crimping net interest margins and eating into near-term profits.

The concentration of electric vehicles also reached 17.8%, an increase from 15.3% in the 2024-B deal.

It is the third deal from the WOART program for the year, and could be upsized to $1.2 billion.

Vice President Kamala Harris' pledge to deliver 3 million homes has drawn applause from homebuilders, lenders and affordability advocates, but experts are uncertain how her administration would pull it off.

The ideas, which are still being hashed out, include lowering fees associated with issuances and simplifying audit requirements.

In his speech at the Federal Reserve's Jackson Hole Economic Symposium, the Fed chair said employment losses are now a bigger risk than elevated inflation.

In the run-up to Powell's Jackson Hole speech, Treasuries tumbled across the US curve, with the move led by shorter maturities.