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5 Things to Know Today — September 25, 2026

  Friday, September 25, 2026  |  moneysavings.ca/canadian-money-brief Bond yields are nearing levels not seen in nearly two decades, Iran is offering a Hormuz truce, Ottawa just posted a fresh deficit, the loonie slid to 70.74 cents, and Canadian consumers pulled back in July. Here's what each story means for your money. 01 — Interest Rates Bond Yields Hit 5.10% — and Your Mortgage Is Watching The 10-year U.S. Treasury yield climbed to approximately 5.10% overnight — a level last seen in 2007 — while the 30-year surged to around 5.43%, its highest since 2004. The spike was triggered by a combination of stronger-than-expected U.S. PMI data, hawkish comments from Federal Reserve officials in New York and Philadelphia, and a weak Treasury auction. Canada's own 10-year bond yield has been tracking close behind, already at multi-year highs. Why does a U.S. number matter here? Canadian fixed mortgage rates are largely priced off the Government of Canada 5-year bond yield, which...
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US Dollar Plummets as Federal Reserve Signals Rate Cuts in 2024

 


The US dollar has taken a hit after the Federal Reserve’s latest economic projections indicated that the interest-rate hike cycle has come to an end and lower borrowing costs are coming in 2024 . The Bloomberg Dollar Spot Index fell for a fifth day as fears of a recession and dovish Fed commentary spurred investors to wager the central bank will have to reverse its most aggressive tightening cycle since the 1980s .

The US dollar has fallen to a four-month low after the Federal Reserve’s latest economic projections indicated that the interest-rate hike cycle has come to an end and lower borrowing costs are coming in 2024 . The dollar slid to the weakest level since early August as swap traders ramp up bets the Federal Reserve will cut interest rates as early as May. 

The dollar remains vulnerable until we see a shift in market expectations for the Fed and that may be a 2024 story. With the dollar rally stalled, it will take some firm real sector data to challenge the current dovish Fed narrative.

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