All five of Canada's largest banks fell in tandem Monday, a rare instance of sector-wide alignment tied to the week's bond yield reaction. CIBC led the decline at 2.6%, followed by TD Bank and Scotiabank at 2.3% each, RBC at 2.1%, and BMO at 1.9%, dragging the broader TSX Composite down 0.86% for the session. The bank led selloff stands apart from Tuesday's rebound, which was driven by energy and commodity names rather than any recovery in the same rate sensitive financials that fell a day earlier.
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