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TSX Steadies After Bond Rout | Canadian Money Brief — May 19, 2026

  TSX Steadies After Bond Rout — But Iran Uncertainty Keeps a Lid on Gains Canadian equities attempt a cautious bounce this morning after last week's sharp sell-off. Oil near US$100 props up energy shares, while gold cools in Canadian-dollar terms and the loonie holds a fragile grip at 72–73 cents US. Canadian Money Brief  ·  moneysavings.ca  ·  May 19, 2026 TSX ~34,020 ▲ Recovering CAD/USD $0.727 → Flat WTI Oil ~US$100 ▲ Elevated Gold (CAD) ~$6,243/oz ▼ Pullback BoC Rate On Hold → Patient Overview Canadian markets opened cautiously higher this Tuesday after the S&P/TSX Composite suffered its worst single-session drop in weeks on Friday, closing at 33,833 — a decline of 1.27% — as a global bond-market selloff combined with stalled US–Iran negotiations hammered sentiment. Today's session opened around 34,027 , with the index trading in a tight range of roughly 33,745 to 34,175, suggesting investors are rebuilding positions but remain wary. The dominant story...
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US-China Trade Truce: A Step Forward, But Challenges Remain

In a significant development, the United States and China have reached a framework agreement to ease export restrictions and maintain their tariff truce. The deal, finalized after two days of intense negotiations in London, aims to remove China's export curbs on rare earth minerals and magnets while also scaling back some recent U.S. export restrictions.

U.S. Commerce Secretary Howard Lutnick described the agreement as putting "meat on the bones" of a prior consensus reached in Geneva. However, the framework still requires approval from both President Donald Trump and President Xi Jinping before implementation. If approved, it could prevent the Geneva agreement from unraveling due to dueling export controls.

Despite the progress, deep-rooted trade tensions remain unresolved. The U.S. has long criticized China's state-led, export-driven economic model, while China has resisted unilateral tariff policies imposed by Washington. The two sides have until August 10 to negotiate a more comprehensive agreement, or tariff rates will revert to significantly higher levels.

Global markets responded cautiously to the news, with investors wary of the deal's long-term viability. While the agreement signals a willingness to cooperate, experts warn that fundamental trade disagreements between the two economic giants persist.

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