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Canadian Money Brief: 5 Things to Know Today — May 18, 2026

  A quick scan of the five stories shaping your wallet right now — from the Bank of Canada's next big decision to your mortgage renewal and a brand-new federal agency hunting financial criminals. 1 Bank of Canada Rate Holds at 2.25% — Next Decision Is June 10 The Bank of Canada kept its overnight policy rate steady at 2.25% at its April 29 meeting, citing a rise in energy-driven inflation and ongoing uncertainty from U.S. tariffs. Governing Council held firm while acknowledging a rate hike could become necessary if oil-linked price pressures prove persistent. The next announcement lands on Wednesday, June 10, 2026 — mark your calendar. Why it matters: Your variable-rate mortgage, HELOC, and lines of credit are directly tied to this rate. With bank prime rates sitting at 4.45%, every meeting counts. 2 Markets TSX Slips Below 34,000 as Bond Yields Spike The S&P/TSX Composite Index finished last week down close to 2%, sliding under the 34,000 mark. A global bond market selloff...
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S&P 500 Futures Retreat from 6,000 Milestone as Post-Election Rally Eases

 

Premarket Update: The S&P 500 futures have dipped below the 6,000-point mark, cooling off after a significant rally driven by Donald Trump’s presidential election victory and a recent interest rate cut by the Federal Reserve.

On Thursday, the S&P 500 futures surpassed the 6,000 milestone for the first time, buoyed by expectations of a more business-friendly regulatory environment under Trump’s administration and the Fed’s 25 basis point rate cut. However, the momentum has slowed as traders digest the implications of Trump’s proposed fiscal policies, which include expansive spending plans and potential tariff hikes.

Despite the slight pullback, the overall market sentiment remains positive. The Dow and S&P 500 are on track for their best week in nearly a year, while the Nasdaq is set for its best performance in two months. Investors are also keeping an eye on upcoming economic data, including the University of Michigan’s preliminary consumer sentiment survey for November and a speech by Federal Reserve Board Governor Michelle Bowman.

Michael Brown, a senior research strategist at Pepperstone, noted that strong earnings and economic growth, coupled with the Fed’s supportive stance, are expected to continue driving the market higher in the medium term. However, the path forward may be complicated by inflationary pressures stemming from Trump’s fiscal policies.

As the market adjusts to the new political landscape, traders have trimmed expectations for further rate cuts next year, leading to a rise in bond yields. The immediate impact on Wall Street has been relatively muted, with all three major indexes closing around record highs on Thursday.


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