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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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Ottawa’s AI Push to Reshape Public Service, Job Cuts Expected

Government office buildings in Gatineau, Que., in 2022. Ottawa’s chief data officer says the introduction of AI to federal government will lead to some job cuts in the public service.

Ottawa’s chief data officer, Stephen Burt, has confirmed that the federal government’s adoption of artificial intelligence will likely lead to some job losses in the public service. While the exact scale and departments affected remain unclear, Burt emphasized that the impact will vary by role and that efforts will be made to retrain and redeploy affected employees.

The move aligns with Prime Minister Mark Carney’s campaign pledge to boost efficiency through AI, alongside Finance Minister François-Philippe Champagne’s directive to cut program spending by 15% over the next three years. In August, the government partnered with Canadian AI firm Cohere to identify areas where AI could enhance operations.

AI is already in use across various departments for tasks such as satellite image analysis, weather forecasting, tax case predictions, and visa application sorting. However, union leaders, including Public Service Alliance of Canada president Sharon DeSousa, warn that replacing human roles with AI could reduce service quality, stressing that “Canadians need real help from real people — not chatbots or automated dead ends”.

The government also plans to launch a public registry to track AI projects, aiming to maintain transparency and public trust as the technology becomes more embedded in federal operations.


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