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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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Doug Ford Reverses Plan to Issue Work Permits to Asylum Seekers

 

                                             Ontario Premier Doug Ford has walked back a plan 
                                             for Ontario to begin issuing work permits to asylum seekers.

Ontario Premier Doug Ford has walked back his recent pledge to issue provincial work permits to asylum seekers, a move that had stirred debate over jurisdiction and immigration policy. Less than a week after declaring Ontario would take matters into its own hands due to what he described as federal delays, Ford reversed course, saying he does not intend to take over responsibilities that fall under federal jurisdiction.

Ford initially claimed that asylum seekers were waiting up to two years for work permits, prompting his proposal to use Section 95 of the Constitution to justify provincial action. However, Immigration, Refugees and Citizenship Canada countered that the average processing time is just 45 days.

At a press conference, Ford acknowledged that his figures were anecdotal and emphasized the need for federal cooperation. “We want to work with the federal government,” he said, adding that Ontario lacks the capacity to take on the full burden of immigration processing.

Critics, including Ontario NDP Leader Marit Stiles, accused Ford of political flip-flopping and urged him to focus on provincial responsibilities such as healthcare and infrastructure.

The reversal highlights ongoing tensions between provincial and federal governments over immigration control, and underscores the challenges asylum seekers face in navigating Canada’s bureaucratic systems.


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