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Big Bank Earnings Are In: What They Reveal About Your Mortgage Stress

  August 26, 2026 Canada's biggest banks are in the middle of reporting Q3 2026 results, and so far the headline numbers look strong. BMO and Scotiabank both beat analyst estimates this week, and National Bank of Canada reported this morning. RBC, TD, and CIBC follow Thursday, closing out the sector's earnings season. But the number that actually matters to most Canadians isn't profit — it's what the banks are setting aside for loans that might go bad, and what they're saying about who's struggling to keep up. That's where the picture gets more interesting than the headlines suggest. The headline numbers BMO kicked off the week with adjusted profit up 22% year-over-year and return on equity climbing to 14%, with the bank reiterating its target of 15% ROE by the end of fiscal 2027. Scotiabank posted what CEO Scott Thomson called a record quarter: net income of $3 billion, up 21% year-over-year, with adjusted ROE hitting 14.2% — clearing the bank's own med...
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Trump’s Early Exit from APEC Hands Xi the Global Stage

    


                                             U.S. President Donald Trump

U.S. President Donald Trump’s abrupt departure from the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, has left the spotlight firmly on Chinese President Xi Jinping, underscoring shifting dynamics in global economic leadership.

Trump concluded a whirlwind 24-hour visit with a bilateral meeting with Xi, where the two leaders struck a fragile trade truce aimed at easing tensions over tariffs and rare earth exports. However, instead of staying for the full two-day summit, Trump boarded Air Force One and returned to Washington, skipping the main leaders’ sessions that traditionally serve as a platform for U.S. presidents to project influence across the Asia-Pacific region.

In his absence, Xi Jinping seized the moment, delivering a keynote speech that positioned China as a defender of free trade and multilateralism at a time of global uncertainty. Xi emphasized the importance of supply chain stability and international cooperation, drawing applause from delegates and reinforcing Beijing’s narrative that it is stepping into a leadership role as Washington retreats.

The contrast was stark: while Trump’s “America First” approach has often meant disengagement from multilateral forums, Xi used the summit to meet with leaders from Canada, Japan, and Thailand, extending China’s diplomatic reach. Analysts noted that the split-screen image of Trump’s early exit and Xi’s high-profile arrival symbolized a broader shift in influence within the Asia-Pacific.

U.S. officials sought to downplay the optics, insisting that Washington remains “very committed” to APEC and highlighting the trade truce as a sign of progress. Yet, the decision to leave early has fueled concerns among allies that the U.S. is ceding ground to China in shaping the region’s economic future.

For many observers, the episode encapsulates the current geopolitical moment: a United States increasingly focused inward, and a China eager to fill the vacuum on the world stage.


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