The Canadian Index

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Line chart showing the Government of Canada 10-year bond yield climbing to a two-year high of 3.94 percent.

The Government of Canada 10-year yield closed at a two-year high after retaliatory tariffs on $20 billion of American goods took effect earlier in September, adding a domestic inflation channel on top of an oil price shock from the Strait of Hormuz conflict. Investors have demanded a larger premium for holding Canadian government debt as both pressures build at once. The move mirrors a similar climb in US Treasury yields heading into that country's own rate decision.

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 showing WTI crude oil climbing to $103.86 a barrel amid Hormuz tanker strikes in September 2026.

WTI crude has climbed more than 23 per cent over the past month as escalating tanker strikes near the Strait of Hormuz repeatedly disrupted shipping through the chokepoint.

The Same Barrel of Oil Just Pushed the Fed Toward a Hike and the TSX Toward a Rally

September 11, 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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