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Big Bank Earnings Are In: What They Reveal About Your Mortgage Stress

  August 26, 2026 Canada's biggest banks are in the middle of reporting Q3 2026 results, and so far the headline numbers look strong. BMO and Scotiabank both beat analyst estimates this week, and National Bank of Canada reported this morning. RBC, TD, and CIBC follow Thursday, closing out the sector's earnings season. But the number that actually matters to most Canadians isn't profit — it's what the banks are setting aside for loans that might go bad, and what they're saying about who's struggling to keep up. That's where the picture gets more interesting than the headlines suggest. The headline numbers BMO kicked off the week with adjusted profit up 22% year-over-year and return on equity climbing to 14%, with the bank reiterating its target of 15% ROE by the end of fiscal 2027. Scotiabank posted what CEO Scott Thomson called a record quarter: net income of $3 billion, up 21% year-over-year, with adjusted ROE hitting 14.2% — clearing the bank's own med...
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Red Sea Shipping Crisis Worsens After US and UK Strike Yemen

 

The Red Sea, a vital waterway for global trade, has become a hotspot of conflict and insecurity after the US and UK launched airstrikes against Houthi rebels in Yemen, who have been attacking commercial vessels with missiles and drones.

The airstrikes, which began on Thursday, were a response to the 27th Houthi attack on shipping since November, according to the US military. The Houthis, who are backed by Iran, have been targeting ships in the southern Red Sea and the Bab al-Mandab Strait, a narrow passage that connects the Red Sea to the Gulf of Aden.

The escalation of violence has disrupted the flow of oil, gas, grains, and manufactured goods through the region, which accounts for about 12% of global seaborne trade. Many shipping companies have suspended or diverted their operations, opting for the longer and more costly route around Africa. Some insurers have also raised their premiums or restricted their coverage for vessels passing through the area.

The shipping crisis has added to the humanitarian catastrophe in Yemen, where a civil war has been raging since 2015. The UN estimates that more than 20 million people are in need of humanitarian assistance, and that millions are on the brink of famine. The airstrikes have also raised fears of a wider regional conflict, as Iran and its allies clash with the US and its allies over various issues, including the nuclear deal and Israel’s war in Gaza.

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