The Daily Chase: CIBC and TD beat expectations; Job vacancies at new high

​After a rough start to bank earnings season, we’ve got a pair of beats this morning as CIBC and Toronto-Dominion exceeded expectations despite setting aside more funds for loans that could go bad.

RECESSION FEARS NOT SHOWING UP IN JOBS MARKET

For all the consternation about an economic downturn (look no further than those provisions at the banks), the jobs market is sending a different signal. Statistics Canada today said job vacancies hit an all-time high of 1,037,900 in June. Worth highlighting at this time when we’re hearing constant warnings about how the health-care system is holding up: StatsCan’s data show vacancies in that sector (and social assistance) surged 40.8 per cent year-over-year to a new high of 149,700.

MARKET WATCH