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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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Classic Carrot Cake with Cream Cheese Frosting

 This cake is nicely spiced, ultra-moist, and topped with lavish swirls of cream cheese frosting.

Classic Carrot Cake with Cream Cheese Frosting

Ingredients:

  • 1 cup currants (soaked in hot water to plump them up, then drained)
  • 2 cups all-purpose flour
  • 2 teaspoons ground cinnamon
  • 1/2 teaspoon ground nutmeg
  • 1/2 teaspoon ground ginger
  • 1 teaspoon baking soda
  • 1/2 teaspoon salt
  • 1 cup chopped walnuts or pecans
  • 1 pound carrots (finely chopped in a food processor)
  • 4 large eggs
  • 1 cup granulated sugar
  • 1 cup packed light brown sugar
  • 1 1/4 cups vegetable oil

Instructions:

  1. Preheat your oven to 350°F (175°C).
  2. In a large bowl, combine the flour, spices (cinnamon, nutmeg, ginger), baking soda, and salt. Whisk to blend.
  3. Add 1/4 cup of the flour mixture to the drained currants and nuts. Toss well; coating the currants and nuts with flour will prevent them from sinking to the bottom of the cake.
  4. Next, add the finely chopped carrots to a food processor fitted with the steel blade. Process until they are the consistency of couscous.
  5. Transfer the carrots to a bowl and wipe the processor bowl clean.
  6. Add the eggs, granulated sugar, and brown sugar to the processor. Process until smooth.
  7. With the machine running, slowly pour in the vegetable oil.
  8. Stir the wet ingredients into the flour mixture. Add the carrots, currants, and nuts. The batter will look very orange!
  9. Transfer the batter to a greased and floured 9x13-inch cake pan.
  10. Bake the cake for about 45 minutes, or until a tester comes out clean.
  11. While the cake cools, make the Cream Cheese Frosting:
    • Combine 8 oz (225g) softened cream cheese, 1/2 cup (1 stick) unsalted butter, and 1 teaspoon vanilla extract in the bowl of an electric mixer. Beat until smooth and creamy.
    • Gradually add 2 cups confectioners’ sugar. Once all the sugar is added, beat on medium-high speed until light and fluffy.
  12. Use an offset spatula to frost the cake. Sprinkle nuts on top, if desired, and serve the cake directly from the pan.

Note: This cake can also be made as a 9-inch layer cake. You’ll have enough frosting for the middle and top of the cake; just leave the sides bare — it’s pretty that way.


 

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