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Markets Digest Hot U.S. Inflation as Iran Tensions Keep Oil Elevated

Publication:  moneysavings.ca / Canadian Money Brief  Date:  Tuesday, May 13, 2026 The TSX opens cautiously Wednesday after hotter-than-expected U.S. CPI data rattled Wall Street on Tuesday, while Strait of Hormuz disruptions continue to lift energy stocks and pressure the loonie toward 1.35 against the greenback. TSX ~34,291 S&P 500 7,400.96 ▼0.16% WTI Oil ~$102/bbl ▲ Gold ~$4,721 USD/oz ▼ USD/CAD ~1.35 US CPI Apr 3.8% ▲ (est. 3.7%) Market Overview Canadian investors are starting Wednesday on a cautious note following a mixed session south of the border. U.S. equities dipped Tuesday after April's consumer price index came in at 3.8% — a touch above the 3.7% consensus forecast and the highest reading since May 2023 — while the core rate held at 2.8%, also above expectations. The data has effectively closed the door on any Federal Reserve rate cuts in 2026, with traders now pricing in a roughly 70% chance of a rate hike by April 2027. For Canadians, the ripple effects...

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Eastern Bangladesh Struggles Amid Deadly Flooding

 

Floodwaters Devastate Eastern Region Millions of people in eastern Bangladesh are grappling with severe flooding caused by heavy monsoon rains. The situation has led to evacuations, deaths, and widespread displacement.

Stranded and Cut Off The worst-hit districts, including Cumilla, Feni, and Noakhali, have seen power outages and severed road links. Many residents are stranded near their homes, which are inundated with floodwater. Travel and communication between the capital, Dhaka, and the southeastern port city of Chattogram have been disrupted due to waterlogged highways.

Rescue Efforts Underway Rescuers are working tirelessly to reach those in need, but the rising waters from upstream Tripura state have made their task challenging. Volunteers with boats and speedboats are struggling to communicate with affected people, as mobile networks are down in many areas. The military and other authorities have initiated rescue operations.

Blaming India Some in Bangladesh have blamed India for the flash floods, alleging that India opened a river dam in Tripura, causing sudden floods downstream. However, India’s Ministry of External Affairs denies this claim.

In summary, eastern Bangladesh faces a dire situation as floodwaters continue to wreak havoc. Evacuations, rescue efforts, and communication challenges persist, leaving communities in distress.

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