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TSX Hits Record High as Iran Deal Lifts Markets — Daily Update, June 16, 2026

Oil tumbles on Strait of Hormuz reopening framework. All eyes on the Federal Reserve as Kevin Warsh chairs his first policy meeting. Here is everything moving Canadian wallets today. Tuesday, June 16, 2026  |  MoneySavings.ca 🇨🇦 TSX — Another Record on the Books The S&P/TSX Composite closed at a fresh all-time high on Monday, June 15, topping 35,398 intraday before finishing near the upper end of its range. The index is now up more than 11% year-to-date , the second-best performance among major global indexes tracked through mid-June — behind only Japan's Nikkei (+31%). Monday's rally was broad-based, fuelled by a surge in risk appetite following the announcement of a U.S.–Iran peace framework over the weekend. Energy, financials, and materials all participated, though energy stocks gained somewhat less than the others as crude oil prices simultaneously fell sharply on the Strait of Hormuz reopening news — a rare case where the same headline pushed the index up and one ...
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TD Bank Cuts Jobs, Pushes Back Office Return for Some Staff

Toronto-Dominion Bank (TD) is moving ahead with job cuts while also delaying its return-to-office mandate for certain employees. The lender confirmed it will reduce its workforce by about 2%, part of a broader cost-cutting strategy following regulatory challenges tied to anti-money-laundering compliance.

The layoffs affect multiple divisions, including risk management, direct investing, and corporate functions. While executives have already transitioned to a four-day in-office schedule, non-executive staff will see a staggered rollout, with some teams not required to return until early 2026.

A TD spokesperson said the bank remains committed to increasing in-person collaboration but is phasing in the mandate to balance operational needs with employee transitions. The move comes as Canada’s second-largest bank continues to streamline operations amid heightened scrutiny and restructuring efforts.


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