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5 Things to Know Today: U.S. Alcohol Ban, GDP Day, 5.25% Yields (Sept 29)

  Tuesday September 29, 2026 A U.S. import ban on Canadian booze kicks in, Statistics Canada reports July GDP, and U.S. bond yields sit at levels not seen since 2007. Here are the five things that matter for your wallet today. 1 The U.S. ban on Canadian alcohol takes effect today As of 12:01 a.m. ET, the U.S. is refusing entry to many Canadian beer, wine, cider and spirits shipments, along with whey products, molasses and larger motorcycles. The measures were signed Sept. 8 and largely replace the 50% tariffs that applied to these goods. Bottles already in the U.S. can still be sold, and product shipped in bulk to be bottled south of the border appears to fall outside the ban. Canadian producers say pivoting to domestic sales won't be easy, because a patchwork of provincial rules complicates selling across borders. What it means for you: The ban hits exports, not what you pay at the store. The exposure is for people who work in or own shares of brewers, distillers and wineries, a...
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Market Turmoil: Stocks and Bond Yields Plunge Amid U.S. Recession Fears

 

In a dramatic turn of events, U.S. stocks and bond yields plummeted sharply on Friday as recession fears intensified following a disappointing jobs report. The latest data revealed an unexpected rise in the unemployment rate to 4.3%, sparking concerns about the health of the economy and the Federal Reserve’s monetary policy.

The labor market, which had shown resilience despite the Fed’s aggressive rate hikes, now appears to be weakening. This shift has led investors to reassess their expectations for future interest rate cuts. Traders are now betting on significant rate reductions for the remainder of the year, nearly doubling their previous estimates.

Treasury yields, which move inversely to prices, saw a sharp decline. The two-year yields hit their lowest levels since March last year, while the benchmark 10-year yields reached their lowest since December. The yield curve, which has been inverted for over two years, is now closer to turning positive, a historical indicator of an impending recession.

The bond market’s reaction underscores the growing anxiety among investors about the potential for a recession. The Sahm rule, an early indicator of recession, was triggered as the three-month moving average of the national unemployment rate rose by 0.53 percentage points. This rule has been a reliable predictor of economic downturns, adding to the mounting concerns.

As the market grapples with these developments, the Federal Reserve faces increasing pressure to adjust its policies to prevent a deeper economic contraction. The coming weeks will be crucial as investors and policymakers navigate this uncertain economic landscape.


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