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Rising interest rates and inflation have created fears of a recession. A recession creates a financial and economic toll on everyone from individuals to companies, making investors risk-averse. Thus, most investors cash out from the stock market and hoard cash.
Many high-debt companies dissolve, get acquired, or go bankrupt in a recession. But there are some too-big-to-fail companies that absorb recession shocks and emerge bigger and stronger. This is the time to buy stocks in such companies through the Tax-Free Savings Account (TFSA). Let’s focus in on two Canadian stocks that are here to stay.
Toronto-Dominion Bank (TSX:TD)(NYSE:TD), among the Big Six Canadian banks, has been doing business for 67 years. It has divided its business into three segments, Canadian banking (commercial and retail), U.S….