The Canadian Index

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Line chart tracking the Government of Canada 10-year bond yield's daily close through late August 2026.

The Government of Canada 10-year yield touched a more than two-year high of 3.77% on August 21 before retreating on trade-war growth concerns and climbing back this week, tracking a jump in the comparable US yield after a hotter-than-expected July inflation report. Rosenberg Research expects the Bank of Canada to look through tariff-driven inflation and hold at its September 2 decision, a case largely independent of the Federal Reserve's own path.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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Line chart comparing the Bank of Canada overnight rate against the rising Government of Canada 10-year bond yield.

The Bank of Canada's overnight rate has held at 2.25 percent through six consecutive meetings since April, but the Government of Canada…

Government of Canada 10-Year Yield Climbs 34bps While BoC Rate Stays Put

August 21, 2026

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Line chart of Brent crude, the S&P/TSX Composite and gold futures rebased to 100 at the August 31 close.

Brent was the only one of the three to finish above its starting level, while the index and gold both fell.

Brent, TSX and Gold Rebased to the August 31 Close

September 30, 2026

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Line chart of Government of Canada 2-year, 5-year and 10-year benchmark yields, August 31 to September 29, 2026.

The Bank of Canada held its policy rate at 2.25% for a seventh straight time, yet Canadian yields rose as United States yields surged.

Government of Canada Benchmark Yields, September 2026

September 30, 2026

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Line chart of the S&P/TSX Composite daily close for September 2026, with a shaded slide and a dashed line at the August 25 record.

The index fell for the month even though Brent crude gained and the Strait of Hormuz stayed shut, because rising United States bond yields outweighed oil and gold.

S&P/TSX Composite Daily Close Through September 2026

September 30, 2026

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Line chart of Government of Canada 2-year, 5-year and 10-year benchmark yields through August 2026, with a shaded span at the August 21 peak.

Canadian yields drifted higher through August even though the Bank of Canada held its policy rate at 2.25% and had no decision to make during the month.

Government of Canada Benchmark Yields, August 2026

August 31, 2026

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Line chart of gold futures, the S&P/TSX Composite and Brent crude, each rebased to 100 at the July 31 close.

Gold rallied and gold miner shares carried the TSX higher, while Brent ended the month close to where it began.

Gold, TSX and Brent Rebased to the July 31 Close

August 31, 2026

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