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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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Trump Suggests NATO Could Expel Spain Over Defense Spending Dispute

Spanish PM Pedro Sanchez said previously that he would not commit to the 5% target, calling it ‘incompatible with our welfare state and our world vision’.

U.S. President Donald Trump has reignited tensions within the NATO alliance by suggesting that Spain could be removed from the 32-member defense pact over its refusal to meet a new military spending target.

Speaking at the White House alongside Finnish President Alexander Stubb, Trump criticized Spain for rejecting NATO’s recently adopted goal of allocating 5% of national GDP to defense. While most allies agreed to the sharp increase, Spanish Prime Minister Pedro Sánchez argued the demand was “incompatible with our welfare state and our world vision.”

“Spain has no excuse not to do this,” Trump said. “Maybe you should throw them out of NATO, frankly”.

Spain, which joined NATO in 1982, reaffirmed its commitment to the alliance and insisted it continues to meet capability targets. Officials in Madrid pushed back on Trump’s remarks, stressing that the country remains a “full member of NATO in its own right.”

The comments highlight ongoing friction between Washington and European allies over defense contributions, a debate that has intensified since Russia’s 2022 invasion of Ukraine. While NATO has no formal mechanism to expel members, Trump’s remarks underscore his determination to pressure allies into higher spending.

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