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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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Toronto-Hamilton Condo Market Hits 35-Year Low Amid Rising Cancellations


New condominium sales in the Greater Toronto-Hamilton Area (GTHA) have plunged to their lowest level in 35 years, according to a new report from Urbanation Inc. Only 319 new condo units were sold in the third quarter of 2025, marking a 54% drop from the same period last year and a staggering 92% below the 10-year average.

The downturn has also triggered a wave of project cancellations. In Q3 alone, 10 projects totaling 2,499 units were scrapped, bringing the year-to-date total to 18 projects and more than 4,000 units cancelled—already surpassing the previous record set in 2018.

Analysts point to high interest rates, affordability challenges, and waning investor demand as key factors behind the slowdown. Developers, facing weaker pre-sale activity, are increasingly shelving projects rather than risk launching into a sluggish market.

The slump underscores the sharp reversal in a region once defined by relentless condo construction. With unsold inventory piling up and demand at historic lows, industry experts warn the market may be entering its most challenging period in decades.


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