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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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French Left Wants to Govern, but Centrists Assert Their Role

 

Following Sunday’s legislative election, France’s left-wing leaders find themselves in a precarious position. The New Popular Front (NFP), a coalition of left-leaning parties, secured the most seats in the National Assembly but fell short of an absolute majority by about 100 seats. President Emmanuel Macron’s centrists came second, and the far-right National Rally third.

The Dilemma

The unexpected election outcome has plunged France into uncertainty just before the Paris Olympics. With no clear path to a stable government, the NFP faces the challenge of governing without a majority. Jean-Luc Melenchon, leader of the hard-left France Unbowed, insists that the NFP should fully implement its program, which includes raising the minimum wage, lowering the retirement age, and capping prices for essential goods. He rejects the idea of forming a coalition with parties outside the NFP, emphasizing the need to stay true to their principles.

Centrists’ Perspective

Centrists, however, argue that the NFP cannot govern effectively without support from their own parliamentary bloc. Foreign Minister Stephane Sejourne, leader of Macron’s Renaissance party, suggests that the NFP should break up, allowing its more moderate elements to form a broader coalition. Their red lines include support for the EU, fighting racism and antisemitism, transitioning to a green economy, and maintaining France’s appeal as an investment destination.

Uncertain Path Ahead

As NFP leaders meet behind closed doors to decide on a prime minister and governing strategy, France remains in political turmoil. The challenge lies in balancing the left’s ambitions with the centrists’ demands, all while navigating a fragmented parliament.


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