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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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A New Era in New York: Zohran Mamdani Sworn In as City’s First Muslim Mayor

Zohran Mamdani is sworn in as mayor of New York City, flanked by his wife Rama Duwaji and New York attorney-general Letitia James, at Old City Hall Station, New York.

Zohran Mamdani has officially begun his term as New York City’s 112th mayor, marking a historic milestone as the first Muslim to lead the nation’s largest city. The 34‑year‑old took the oath of office just after midnight in a decommissioned subway station beneath City Hall, placing his hand on a Quran during the ceremony.

In his inaugural address, Mamdani outlined an ambitious agenda centered on affordability, public transit, and expanded social services. He pledged to “govern expansively and audaciously,” reaffirming commitments to policies such as rent freezes, free bus service, and universal child care.

A public ceremony later in the day featured prominent progressive figures, underscoring Mamdani’s political roots and the coalition that propelled him to victory. The event also drew widespread attention online after a cultural performance went viral, highlighting the broader significance of the moment for many New Yorkers.

Mamdani’s rise from state assembly member to mayor has been described as unlikely, but his inauguration signals a shift in the city’s political landscape. As he begins his four‑year term, he faces major challenges, including housing affordability, transit reliability, and deep political polarization. Supporters view his election as a mandate for bold change and the start of a new chapter in New York’s history.


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