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Big Bank Earnings Are In: What They Reveal About Your Mortgage Stress

  August 26, 2026 Canada's biggest banks are in the middle of reporting Q3 2026 results, and so far the headline numbers look strong. BMO and Scotiabank both beat analyst estimates this week, and National Bank of Canada reported this morning. RBC, TD, and CIBC follow Thursday, closing out the sector's earnings season. But the number that actually matters to most Canadians isn't profit — it's what the banks are setting aside for loans that might go bad, and what they're saying about who's struggling to keep up. That's where the picture gets more interesting than the headlines suggest. The headline numbers BMO kicked off the week with adjusted profit up 22% year-over-year and return on equity climbing to 14%, with the bank reiterating its target of 15% ROE by the end of fiscal 2027. Scotiabank posted what CEO Scott Thomson called a record quarter: net income of $3 billion, up 21% year-over-year, with adjusted ROE hitting 14.2% — clearing the bank's own med...

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Tariff Shock Ripples: TSX Futures Plunge as Global Markets Sell Off


TSX futures joined a broader global selloff on Monday after U.S. President Donald Trump announced new tariffs on imports from Canada, Mexico, and China, set to take effect Tuesday. The measures include a 25% levy on most Canadian goods—with energy products facing a lower 10% rate—and have spurred widespread investor anxiety about the potential for a full-blown trade war.

Early trading saw March futures on the S&P/TSX index drop by about 1.3%, as markets reacted swiftly to the news. The tariffs have unsettled investors, prompting a flight to safer assets such as the U.S. dollar and U.S. Treasuries, while equity positions were pared off amid fears that the tariffs could lead to higher inflation and slower economic growth. Global indices from Europe to Asia have also been pressured, with significant selloffs in major markets.

In response to Trump’s announcement, Canadian Prime Minister Justin Trudeau has vowed swift retaliatory measures, unveiling plans for tariffs on roughly C$155 billion worth of U.S. goods. The escalation in trade tensions is likely to disrupt supply chains further, affecting sectors from automotive to energy, and could even pave the way for prolonged economic uncertainty.

Amid the turmoil, some corporate activity continues to move forward. For example, Brookfield Asset Management recently completed a $1.7 billion acquisition in the electric heat trace systems sector—a sign that while markets are volatile, business fundamentals continue to drive major transactions.

As investors digest the unfolding trade conflict, many caution that further tariff escalations could lead to a cascade of economic challenges, including increased consumer prices and potential recessions in affected regions.

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