The Globe and Mail reports in its Saturday edition that U.S. President Donald Trump's turbulent tariff and policy manoeuvres are upending markets, hiking risk of loan defaults and stalling business investment. The Globe's Stefanie Marotta writes, however, that the hit to Canada's biggest banks has been more muted than feared. When the country's lenders released second-quarter financial results over the past week, they set aside more money for debt defaults. Beyond these reserves, the banks' earnings signal they are able to withstand economic shocks -- so long as trade and geopolitical tensions do not escalate. Four lenders -- RBC, Scotiabank, BMO and National Bank -- raised their dividends. Before Mr. Trump unleashed his tariff plan, CIBC and TD Bank decided to raise their dividends at the end of last year. With CIBC also repurchasing $6-million of its $20-million share buyback program in the second quarter, chief financial officer Robert Sedran said the bank is still confident in its decision as the bank posted stronger revenue. "It gave us the confidence last year to increase the dividend. It gives us the confidence to continue to buy back stock," Mr. Sedran told The Globe. "Our capital ratio is strong."