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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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Trump's Tariff Tango: A Chaotic Dance of Trade Policies

The Trump administration's tariff plans have left many scratching their heads. With a schedule that seems to shift as often as the wind, businesses and governments alike are struggling to keep up. The latest development involves a 25% tariff on Canadian goods, set to take effect on March 4. This move, according to President Trump, is aimed at combating the flow of fentanyl into the United States, despite evidence suggesting that Canada is not a significant source of the drug.

Adding to the confusion, Trump has also announced reciprocal tariffs on all trading partners, scheduled for April 2. These overlapping deadlines and mixed messages have created uncertainty in international trade, a hallmark of Trump's policy approach.

Canadian Prime Minister Justin Trudeau has vowed to retaliate with tariffs on American goods if these measures proceed. Meanwhile, businesses on both sides of the border are bracing for economic turbulence.

The ever-changing nature of these tariffs underscores the unpredictability of the current trade landscape. As deadlines loom, the world watches to see how this high-stakes game of economic brinkmanship will unfold.

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