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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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Canadians Dread Another Election as Budget Showdown Looms in Ottawa

 

Minister of Finance and National Revenue Francois-Philippe Champagne listens to a reporter's question ahead of a cabinet meeting on Parliament Hill in Ottawa, on Tuesday, Oct. 21, 2025.


As tensions rise on Parliament Hill, Liberal MPs are emphatically rejecting the idea of a snap federal election, insisting that Canadians have no appetite for another trip to the polls. The warning comes amid a high-stakes standoff over the upcoming federal budget, which the minority Liberal government is struggling to secure support for.

Government House Leader Steven MacKinnon acknowledged that the Liberals currently lack the votes needed to pass the budget, scheduled for tabling on November 4. He accused opposition parties of making "unserious" demands and playing political games, raising the specter of a holiday-season election if the budget fails to pas.

Opposition leaders, however, are pushing back. Conservative House Leader Andrew Scheer argued that the Liberals are deliberately crafting a budget they know won’t gain support, suggesting the government is trying to engineer its own defeat to trigger an election. He called for a more “affordable” budget that reflects the economic pressures facing Canadians.

Finance Minister François-Philippe Champagne’s budget is expected to include significant investments in housing, the military, and support for workers affected by the U.S. trade war. However, it may also feature cuts to other spending areas, making it a tough sell across party lines.

With the Liberals holding a minority, they need at least one opposition party—either the NDP, Bloc Québécois, or Conservatives—to back the budget. So far, no party has committed to doing so, leaving the government in a precarious position.

As the political brinkmanship continues, many MPs are echoing the sentiment of their constituents: “God no,” said one Liberal MP when asked about the prospect of another election. Canadians, it seems, are weary of political instability and would prefer their leaders focus on governing rather than campaigning.


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