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5 Things to Know Today — September 24, 2026

  Thursday, September 24, 2026 5 Things to Know Today Bond yields are hitting levels not seen in decades, Trump and Xi just extended a trade truce, and the Bank of Canada is mired in a near-100-day strike. Here's what Canadians need to know this morning. 1 · Markets TSX Sinks as Bond Yields Hit Multi-Decade Highs The TSX dropped 584 points on Wednesday — a 1.61% slide — closing at 35,751.43 and breaking through its 25-day and 50-day moving averages. It was the worst single-session performance in weeks, reversing three straight days of gains. The selloff was driven by rising energy prices and a global bond market rout that has sent U.S. 10-year Treasury yields toward 5.1%, their highest since 2007, while Canada's 30-year yield hit a level not seen since 2004. Higher yields pull money out of equities and push up borrowing costs across the board. Big bank stocks led the decline — RBC fell 2%, TD dropped 2.4%, BMO shed 2%, and Scotiabank retreated 1.6% — while gold miners added to ...
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Trudeau Announces GST Holiday and $250 Cheques to Ease Holiday Costs

 

Prime Minister Justin Trudeau has unveiled a series of measures aimed at alleviating financial pressures for Canadians during the holiday season. The announcement includes a two-month GST holiday on select goods and services, as well as $250 cheques for many Canadians.

Starting December 14, 2024, and running through February 15, 2025, the GST holiday will apply to a variety of items, including prepared foods, restaurant meals, snacks, children’s clothing and footwear, toys, books, and Christmas trees. This initiative is designed to provide immediate relief to families and individuals facing high costs during the festive period.

In addition to the GST holiday, the federal government will issue $250 cheques to Canadians who earned up to $150,000 in 2023. These cheques, part of the “Working Canadians Rebate,” are expected to be distributed in early spring 2025.

Trudeau emphasized that these measures are intended to help Canadians manage their expenses during a time of year that can be particularly financially challenging. “For two months, Canadians are going to get a real break on everything they do,” he said at a media event in Newmarket, Ontario.

Deputy Prime Minister Chrystia Freeland added that the GST holiday and rebate are part of the government’s broader efforts to support Canadians as the country continues to recover from the economic impacts of the COVID-19 pandemic.

These initiatives are expected to save taxpayers an estimated $1.6 billion over the two-month period, providing significant relief to many households across the country.


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