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Big Bank Earnings Are In: What They Reveal About Your Mortgage Stress

  August 26, 2026 Canada's biggest banks are in the middle of reporting Q3 2026 results, and so far the headline numbers look strong. BMO and Scotiabank both beat analyst estimates this week, and National Bank of Canada reported this morning. RBC, TD, and CIBC follow Thursday, closing out the sector's earnings season. But the number that actually matters to most Canadians isn't profit — it's what the banks are setting aside for loans that might go bad, and what they're saying about who's struggling to keep up. That's where the picture gets more interesting than the headlines suggest. The headline numbers BMO kicked off the week with adjusted profit up 22% year-over-year and return on equity climbing to 14%, with the bank reiterating its target of 15% ROE by the end of fiscal 2027. Scotiabank posted what CEO Scott Thomson called a record quarter: net income of $3 billion, up 21% year-over-year, with adjusted ROE hitting 14.2% — clearing the bank's own med...
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Trump Extends China Tariff Truce, Aims to Keep Trade Talks Alive

 

                                            U.S. President Donald Trump


In a last-minute move, President Donald Trump signed an executive order on August 11 extending the tariff truce with China by another 90 days, delaying steep tariff hikes that were set to take effect on August 12. The extension pushes the deadline to November 10, giving both nations more time to negotiate a broader trade agreement.

The truce, originally agreed upon in May after talks in Geneva, had lowered U.S. tariffs on Chinese goods to 30% and China's tariffs on U.S. imports to 10%. Without the extension, tariffs would have surged to 145% and 125% respectively, threatening a near-total trade embargo between the world’s two largest economies.

Trump’s decision comes amid ongoing discussions and recent meetings in Stockholm, where negotiators sought to resolve long-standing trade disputes. The president also urged China to quadruple its purchases of U.S. soybeans, a move seen as part of his broader strategy to rebalance trade relations.

Trade experts view the extension as a positive step toward de-escalation. “It demonstrated that both sides are trying to see if they can reach some kind of a deal that would lay the groundwork for a Xi-Trump meeting this fall,” said Wendy Cutler, a former senior U.S. trade official.

While the White House has not confirmed further concessions from Beijing, the pause offers relief to U.S. retailers preparing for the holiday season and signals a continued willingness to negotiate. Whether this truce leads to a lasting agreement remains to be seen, but for now, the tariff war is on hold.


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