Yet another big Canadian bank has delivered strong results - a theme that BNN takes up again today as the industry’s reporting season winds down.

Toronto-Dominion Bank (TD.TO) posted adjusted diluted earnings of $1.33, beating the $1.27 consensus, and raised its dividend a hefty nine per cent or five cents a share a share. 

“We believe that TD’s shares should be rewarded today,” Barclays analyst John Aiken wrote in a report to clients. However, he notes that there “was a significant drop in margins within the U.S. retail segment, which could be viewed as a disappointment.” Seems it has something to do with “balance sheet management activities,” which sounds like it could mean just about anything.

We’ll dissect the TD results at 12:05 p.m. ET with veteran bank watcher Richard Bove, vice-president of equity research at Rafferty Capital Markets.

LOONIE LOSSES

The Canadian dollar has been suffering as the U.S. dollar is lifted by growing expectations of a Federal Reserve interest rate increase this month. BNN Managing Editor Noah Zivitz notes that the loonie is into a fourth day of losses, mired below US$0.75 even after the latest GDP data from Statistics Canada shows this country’s economy grew 2.6 per cent in the fourth quarter of 2016 . Societe Generale currency strategist Kit Juckes warned his clients this morning that “CAD in trouble.”

At 2 p.m. ET, we’ll hear from Dynamic Funds manager David Fingold, who has been a bear on Canada for some time. “I recommend zero exposure,” Fingold warns, citing in part research from Macquarie’s David Doyle. The Macquarie strategist, also a consistent pessimist on this country’s outlook, warns that Canada is weaker that the United States on important measures such as household debt service ratios, housing affordability and auto sales.

“Further exacerbating the situation is that worker earnings growth has accelerated in the U.S.as it has weakened in Canada (weekly wage growth is at a 20-year low),” Doyle said in a report in late February.

SNAP IT UP

On a brighter note, investors get a play on the Snapchat messaging app today as Snap Inc. (SNAP.N) shares start trading in New York. The company raised US$3.4 billion in its initial public offering, meeting ravenous demand.

Tech investor Josh Elman give us his take on Snap at 10:10 a.m. ET. He’s a partner at Greylock, an outfit that “backs entrepreneurs who are building disruptive, market-transforming consumer and enterprise software companies.”

Finally, the Economist grouses that the app, beloved by 18- to 24-year-olds, “makes little effort to help new users understand its appeal.” The instructions are buried deeply away.

The UK magazine advises CEO Evan Spiegel to issue "simpler, how-to guides."

We're wondering if they've missed the point.

THE RAREST OF GEMS

Finally, you can rely on Commodities segment producer Amanda Whalen to find offbeat substances and processes to explore.

At 11:50 a.m. ET, it’s the turn of ammonites, billed as "one of the rarest gems on earth."

Formed near present-day Lethbridge from prehistoric marine fossils, they are prized for dazzling colours. We'll be joined by Jay Maull, president of Calgary-based Korite, which has expanded its ammonites mine near the city.

Every morning Commodities host Andrew Bell writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe.