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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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U.S. Retaliatory Strikes in Iraq and Syria: Dozens Killed in Escalating Tensions

 

In a significant escalation of tensions, the United States has launched retaliatory airstrikes in both Iraq and Syria. These strikes targeted more than 85 locations linked to Iran’s Revolutionary Guard (IRGC) and the militias it supports. The reported death toll stands at nearly 40 people.

The airstrikes were carried out in response to a deadly attack on U.S. troops by Iran-backed militants. President Joe Biden’s administration swiftly responded with this multi-tiered military action, signaling a firm stance against aggression. The strikes involved the use of long-range B-1 bombers flown from the United States, underscoring the seriousness of the situation.

The conflict has intensified, with implications reaching beyond Iraq and Syria. The strikes come amidst ongoing tensions in the region, including the conflict between Israel and Hamas. Iran, a key supporter of Hamas, has maintained a delicate balance, avoiding direct involvement in the regional turmoil while backing various groups across Lebanon, Yemen, Iraq, and Syria—the so-called “Axis of Resistance” that opposes Israeli and U.S. interests.

Reactions and Condemnations:

Iran: The foreign ministry spokesperson, Nasser Kanaani, labeled the U.S. attacks as “another adventurous and strategic mistake” that would only escalate tension and instability in the region.

Iraq: The Iraqi government condemned the strikes, reporting that they resulted in the deaths of 16 people, including civilians
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Syria: Rami Abdulrahman, director of the Syrian Observatory for Human Rights, confirmed that 23 people guarding the targeted locations lost their lives in Syria.

Despite these retaliatory actions, the Pentagon maintains that it does not seek war with Iran. It believes Tehran shares this sentiment, even as pressure mounts on President Biden to respond decisively. As the situation unfolds, the world watches closely, aware that the stakes are high and the consequences far-reaching.

In this volatile landscape, the question remains: Can diplomacy prevail, or will the cycle of violence continue? Only time will tell, but the recent strikes serve as a stark reminder of the fragility of peace in the Middle East.

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