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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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U.S. Intelligence Chair Urges Canada to Boost Defense Spending: "You're Already Past Due"

 

The chair of the U.S. House Intelligence Committee has issued a sharp call to Canada, urging the nation to increase its defense spending to meet NATO commitments. Speaking during a high-profile visit to Ottawa, the chair emphasized the importance of Canada's role in collective security, particularly amid rising global threats.

“Canada has been a steadfast ally, but in terms of defense spending, you're already past due,” the U.S. official stated, referencing NATO’s guideline that member states allocate at least 2% of their GDP to defense. Currently, Canada falls significantly short of that target, drawing criticism from some allies.

The plea comes as tensions escalate globally, with NATO facing challenges from Russia’s war in Ukraine and emerging threats in the Indo-Pacific. U.S. officials have stressed that a stronger Canadian defense budget would enhance both regional stability and the alliance’s collective strength.

In response, Canadian officials acknowledged the concerns but highlighted recent investments in military modernization, including plans to upgrade NORAD and acquire new fighter jets. Critics within Canada argue, however, that the pace of these efforts remains too slow to meet current demands.

As pressure mounts, the debate over Canada’s defense spending is expected to intensify in political and public forums.


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