The Financial Post reports in its Saturday edition that record quarterly results posted by Canada's big banks last week suggest the country's economy has been resilient in the face of President Donald Trump's trade war, but with Canada yet to strike a trade deal, the mood remains tense. The Post's Naimul Karim writes that five of the Big Six lenders comfortably beat analysts' expectations for the third quarter, with lenders such as the RBC and TD posting record profits, as revenues rose and less money was set aside to tackle bad loans. And yet, executives remained guarded in their outlooks. While there were talks of how the "uncertainty meter" had gone down and how spending on non-essential items had improved, the banks repeatedly pointed to the importance of the Canada-U.S.-Mexico agreement, which has been shielding the economy from the worst of Mr. Trump's tariffs but is coming up for renegotiation. BMO's Darryl White said the Canadian economy is in the "middle innings," weaving through a modest growth environment. "The economy is sort of moving at a pace that you'd expect. It's neither robust, nor does it feel recessionary in Canada, and you've got some segments that will naturally slow down when that happens."
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