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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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Senate Approves $9 Billion in Cuts, Marking Fiscal Win for Trump


In a narrow 51–48 vote, the U.S. Senate passed a sweeping $9 billion rescissions package early Thursday morning, delivering a significant legislative victory to President Donald Trump. The bill slashes funding for foreign aid programs and eliminates all $1.1 billion earmarked for the Corporation for Public Broadcasting over the next two years.

The cuts target global health initiatives, disaster relief, and development assistance, though a $400 million reduction to the PEPFAR HIV/AIDS program was removed following bipartisan pushback. Senators Lisa Murkowski (R-Alaska) and Susan Collins (R-Maine) broke ranks with their party, citing concerns over the impact on rural broadcasting and global disease prevention efforts.

Senate Majority Leader John Thune hailed the move as a “small but important step toward fiscal sanity”, while Democrats criticized it as a partisan maneuver that undermines Congress’s constitutional role in federal spending. The bill now returns to the House for final approval before Friday’s deadline, after which the rescissions would expire if not enacted.

The vote underscores Trump’s growing influence over Congress in his second term, with Republicans largely aligning behind his agenda despite internal dissent and warnings of long-term consequences for America’s global standing and domestic emergency communications.

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