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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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Canadian Job Market Falters as August Brings Unexpected Spike in Unemployment

 

                       Employment fell for both core-aged men and women in August, with steeper declines for men


Canada’s economy shed 65,500 jobs in August 2025, pushing the national unemployment rate to 7.1%, according to new data from Statistics Canada. This marks the highest rate in nearly a decade outside of the pandemic years, and it surpassed economists’ expectations of a modest rise to 7.0%.

Economists Caught Off Guard

Analysts had forecast a gain of 10,000 jobs for the month, but the sharp decline—especially among core-aged workers—suggests deeper structural issues. Employment dropped for both men and women aged 25 to 54, with men experiencing steeper losses.

Broader Economic Headwinds

The disappointing jobs report follows news that Canada’s economy contracted in Q2, weighed down by U.S. tariffs and global trade uncertainty. These pressures have dampened exports and added strain to domestic industries.

Long-Term Trends

CIBC economist Andrew Grantham noted that recent Labour Force Survey data has shown “wild swings,” with job gains in June followed by losses in July and August. He emphasized that while employment is rising on average, it’s not keeping pace with population growth.


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