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5 Things to Know Today: Markets Near Records, Rates Hold, Oil Eases

  Here's what Canadian money watchers need to know as we head into the week: 1. TSX Hits Record Territory Amid Diplomatic Optimism The S&P/TSX Composite Index is hovering near 35,000 , approaching record levels as markets digest positive signals from U.S.-Iran negotiations. Senior officials say a deal to reopen the Strait of Hormuz could be signed at next week's G7 summit, easing geopolitical tensions and supporting oil-sensitive sectors. Financial stocks led gains—RBC, TD, and BMO all rose about 0.5–1%—while mining names like Agnico Eagle and WPM climbed despite softer gold prices. What it means for your wallet: A more stable geopolitical backdrop and lower oil prices could ease inflation concerns, improving conditions for your savings and investments. 2. Bank of Canada Holds Rates at 2.25% for Fifth Time On June 10, the BoC kept its benchmark overnight rate steady at 2.25% —marking five consecutive holds since October 2025. Governor Tiff Macklem cited a "two-directi...
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Palestinian Prime Minister Shtayyeh Resigns: A Pivotal Moment for Palestinian Politics

 

In a significant development, Palestinian Prime Minister Mohammad Shtayyeh has submitted his resignation to Palestinian President Mahmoud Abbas. The move comes as the Palestinian Authority grapples with the aftermath of Israel’s war against the Islamist group Hamas in Gaza.

Shtayyeh, an academic economist who assumed office in 2019, cited the need for a broad consensus among Palestinians regarding political arrangements. The recent conflict in Gaza has underscored the urgency for reform and unity within the Palestinian leadership. Here are the key points:

  1. Context: The Palestinian Authority, established three decades ago under the interim Oslo peace accords, currently exercises limited governance over parts of the occupied West Bank. However, it lost control of Gaza in 2007 following a power struggle with Hamas.

  2. Emerging Reality in Gaza: Gaza has endured nearly five months of heavy fighting, leaving the region devastated. Shtayyeh emphasized that the next stage requires new governmental and political arrangements that account for this emerging reality in the Gaza Strip.

  3. National Unity Talks: Fatah, the faction controlling the Palestinian Authority, and Hamas have been engaged in efforts to reach an agreement over a unity government. A meeting in Moscow is scheduled for Wednesday to discuss governance for the Palestinians.

  4. U.S. Pressure and International Efforts: The resignation coincides with growing U.S. pressure on President Abbas to revitalize the Palestinian Authority. International efforts are underway to halt the fighting in Gaza and establish a stable political structure for the enclave.

While Shtayyeh’s resignation awaits acceptance by President Abbas, it marks a pivotal moment in Palestinian politics. As the nation grapples with challenges, the door to reforms swings open, inviting hope and uncertainty alike.


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