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Weekly Market Snapshot: Yields at Multi-Decade Highs, Oil Eases on Hormuz Hopes — Week of Sept. 22–26, 2026

Week of September 22–26, 2026 It was a week of two forces tugging in opposite directions. Bond yields surged to levels not seen since 2004–2007, driven by resilient US economic data, hawkish Fed signals, and oil-driven inflation fears — putting pressure on equities and the Canadian dollar. Then, late in the week, reports emerged that US and Iranian negotiators were exploring a phased deal to reopen the Strait of Hormuz. Oil pulled back sharply Friday, yields stabilized, and markets found enough relief to post a partial recovery. The TSX finished the week slightly lower but well off its worst levels, while US indices managed a weekly gain. 🍁 Canada — TSX & the Loonie The S&P/TSX Composite entered the week near 35,800 and, after a volatile ride, closed Friday around the same level — giving up roughly 0.3% on the week. Mid-week selling was driven by the same forces pressuring global markets: surging US Treasury yields, a rising oil-inflation premium, and investor nervousness ahea...
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A Step Toward Peace: Russia and Ukraine Agree to Maritime Truce and Energy Attack Ban

In a significant development, Russia and Ukraine have reached separate agreements to ensure safe navigation in the Black Sea and to halt attacks on each other's energy facilities. These agreements, mediated by the United States, mark a potential turning point in the three-year-long conflict between the two nations.

The accords, finalized during talks in Saudi Arabia, aim to reduce hostilities and pave the way for broader peace negotiations. Both nations have expressed skepticism about the other's commitment to the agreements, emphasizing the need for U.S. enforcement. Ukrainian President Volodymyr Zelenskyy has stated that any violations by Russia would prompt requests for sanctions and additional military support.

While the agreements represent progress, challenges remain. Maritime battles have been a smaller part of the conflict since 2023, but energy infrastructure has been a frequent target for both sides. The success of these agreements will depend on mutual adherence and effective enforcement.

This development offers a glimmer of hope for a resolution to the ongoing war, but the road to lasting peace remains uncertain.

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