The Canadian Index

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Line chart showing the VIX holding near 15.85 despite Iran sanctions and Canadian tariff escalation in late August 2026.

Iran sanctions and Canada's retaliatory tariffs landed within days of each other this week, yet the VIX barely reacted, staying inside the narrow range it has held since early August. Behavioural economists Daniel Kahneman and Amos Tversky's availability heuristic offers an explanation: repeated shocks without matching losses make each additional one feel less probable, not more. Jackson Hole on Friday and the Bank of Canada's September 2 decision are the next tests of whether that compression holds.

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 the VIX volatility index holding a narrow range through late August 2026 despite trade war headlines.

The VIX has held a narrow range for most of August even as Ottawa confirmed C$27.6 billion in retaliatory tariffs and Washington unveiled a sweeping new Iran sanctions campaign.

The VIX Has Not Moved in Three Weeks. That Is Not the Same as Markets Judging the Trade War Small.

August 26, 2026

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Line chart comparing indexed gold and Brent crude prices as the two assets diverge then reverse in early August 2026.

Gold rose 7.2% last week to a record close near $4,400 while Brent crude fell 7.3% as traders bet a Hormuz shipping deal was close.

Gold's Record Week Made the Story Feel Settled. Monday Already Disagrees.

August 10, 2026

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Bar chart of WTI crude oil's daily percentage price swings from July 6 to August 4, 2026.

Crude oil's decline reflects a pattern researchers Daniel Kahneman and Amos Tversky called base-rate neglect: investors treating each…

Crude Moved More Than Two Percent in Twelve of the Past Twenty-Two Sessions. That Is a Base-Rate Problem, Not a Supply Problem.

August 5, 2026

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Line chart showing the spot price of gold falling 2.07 percent on July 24, 2026 as oil prices surged.

Gold's drop came even as Brent crude crossed $100 a barrel for the first time since May, after Houthi forces struck two Saudi oil tankers in the Red Sea.

Record High, Sharp Reversal: A Lesson in Loss Aversion

July 24, 2026

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Line chart showing the S&P/TSX Composite climbing toward a 52-week high during eleven nights of strikes on Iran.

The index has climbed toward a record high through eleven straight nights of strikes on Iran, a rally powered narrowly by gold miners and…

The Recency Trap in a War-Driven Rally

July 23, 2026

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Line chart showing the TSX Composite rebounding 1.17 percent Tuesday after Monday's steepest one-day decline in over a week.

The TSX Composite closed up 1.17% Tuesday, rebounding from Monday's 0.86% drop, the index's first close below 35,000 in eight sessions.

The Monday Sell, the Tuesday Miss

July 22, 2026

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