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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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High Stakes Negotiations: Trudeau and Trump to Address Trade War Turmoil

 

In a dramatic escalation of North American trade tensions, President Donald Trump has recently imposed steep new tariffs on Canadian exports, a move that has reignited fears of a full-blown trade war across the continent. The tariffs—which include a 25% levy on a broad range of goods—are aimed at reducing the United States’ trade deficit and curbing illegal immigration and drug trafficking, claims Trump has reiterated in recent statements.

In response, outgoing Canadian Prime Minister Justin Trudeau is scheduled to speak with Trump later today. Trudeau’s office confirmed the call as Canadian leaders scramble to prepare a robust retaliatory strategy that could involve matching tariffs on American goods, a move that Trudeau warned would ultimately drive up prices for U.S. consumers by disrupting key markets such as automobiles, lumber, and energy citeturn0search18. “We know that if the United States is going to see an increase in jobs and growth, it will require more of our essential products,” Trudeau noted, emphasizing that only a minuscule portion of the issues cited by Trump—such as illegal drug flows—originate from Canada .

As both leaders face domestic pressures—Trudeau with a pending leadership transition and Trump with promises of an economic “golden age”—today’s conversation is expected to be a critical test of their ability to navigate complex economic interdependencies and avert long-term damage to one of the world’s most integrated trading relationships. Both sides appear determined to protect their national interests, even if it means higher costs for consumers and potential disruptions in North American supply chains.

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