Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
The financial markets have maintained their upward trajectory following the recent Federal Reserve meeting. Investors have been encouraged by the Fed’s signals of a potential pivot in monetary policy, leading to a rally in both shares and bonds.
- Global Gains: The MSCI world share index is on track for its seventh consecutive week of gains, a streak not seen in six years. European and Asian markets have also seen significant rises.
- Fed’s Dovish Stance: The Fed’s dovish outlook, coupled with Chair Jerome Powell’s remarks on the end of tightening measures, has fueled optimism. Markets are now pricing in substantial rate cuts for the coming year.
- Bond Market Rally: The 10-year Treasury yield has dipped below 4%, with a notable weekly decline, reflecting the largest drop since the early pandemic days in March 2020.
- Mixed Economic Signals: Despite positive market movements, preliminary PMI data indicates continued challenges in the euro zone economy, potentially questioning the ECB’s current stance.
This sustained market performance highlights investor confidence in the face of changing central bank policies and varied economic indicators.
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