The Canadian Index

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Bar chart comparing Canadian mortgage and bond rate benchmarks, including the five-year fixed mortgage rate, as of mid-August 2026.

The best available uninsured five-year fixed mortgage rate has climbed to about 4.24%, even though the Bank of Canada's overnight rate has held at 2.25% since October.

The 2026 Mortgage Renewal Wall Just Got a Higher Price Tag

August 13, 2026

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Bar chart of daily percentage changes for the S&P/TSX Composite over 22 trading sessions ending August 12, 2026.

The S&P/TSX Composite gained 0.51% on Wednesday, its fourth record close in five trading sessions, while the VIX eased to about 15.3, its lowest level in weeks.

Overconfidence Is the Real Cost of a Four Session Record Streak

August 13, 2026

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Bar chart ranking TSX sector performance, showing gold and materials leading a fourth consecutive record close.

The TSX Composite added another 122 points Wednesday to a fourth consecutive record near 36,598, but the sector driving the gain changed entirely from a day earlier.

The TSX's Record Run Changed Engines Today, and the Bond Market Shows Why Ottawa Can't Borrow the Fed's Relief

August 12, 2026

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Bar chart showing gains across silver, gold, stocks and oil after a cooler than expected US inflation report.

A cooling US inflation report moved markets broadly higher Wednesday afternoon after July's CPI landed exactly on consensus at 3.4% year…

The TSX's Record Run Changed Engines Today, and the Bond Market Shows Why Ottawa Can't Borrow the Fed's Relief

August 12, 2026

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Bar chart ranking Tuesday's top TSX movers, led by Air Canada up 5.9 percent.

The TSX closed at a third consecutive record Tuesday even as the Dow, S&P 500, and Nasdaq all fell the same session on fading hope for a near-term Strait of Hormuz resolution.

The TSX Hit a Third Straight Record. Every Major US Index Fell the Same Day.

August 12, 2026

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Line chart tracking Brent crude oil prices settling at 88.63 dollars amid Strait of Hormuz tensions.

Brent crude has swung over the past week as two opposing developments in the Iran conflict price into the same market.

The US Navy Disabled a Ship Enforcing the Iran Blockade. Iran and Oman Are Still Talking.

August 12, 2026

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Chart comparing Canadian and US key interest rates, with the Canadian 10-year yield at 3.75 percent.

Canada's 10-year government bond yield climbed to 3.75%, its highest level since May 2024, even though the Bank of Canada has held its…

Canadian Bond Yields Just Hit a 26-Month High. Today's US Inflation Report Decides What Happens Next.

August 12, 2026

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Step chart showing the CRA prescribed interest rate holding flat at 3 percent since the third quarter of 2025.

The Canada Revenue Agency's prescribed rate has held at 3% for five straight quarters, but the fourth-quarter rate is set from Government…

The Prescribed Rate Has Sat at 3% for Five Quarters. The September Auctions Could End That.

August 12, 2026

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Bar chart showing Franco-Nevada's quarterly earnings surprise turning negative 7.7 percent in the second quarter of 2026.

Franco-Nevada's second-quarter earnings landed 7.7% below the consensus estimate analysts had published in advance, even though the company…

Franco-Nevada Beat on Almost Everything. The Market Will Only Remember One Number.

August 12, 2026

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Bar chart showing Cargojet and other top-gaining TSX stocks leading Tuesday's session as energy stocks lagged.

Cargojet led Tuesday's TSX session, up 4.6 percent, as financials and industrials drove the index to a fresh intraday record.

Cargojet Leads Tuesday's TSX as Energy Lags

August 11, 2026

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Line chart showing the TSX composite, Brent crude and Canada's 10-year bond yield indexed and diverging in early August 2026.

Canada's 10-year government bond yield, the TSX composite and Brent crude had moved together through early August as Strait of Hormuz risk built, but Tuesday broke that pattern.

TSX, Brent and Canada's 10-Year Yield Diverge

August 11, 2026

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Bar chart showing Strathcona Resources and other TSX stocks with the largest single-session gains and losses on Monday.

The TSX composite closed at a record on Monday as strength in energy and industrial names offset a slide in gold miners.

TSX Closes at a Record 36,468 as Oil Names Surge

August 10, 2026

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Line chart showing Brent crude oil prices rising to 89.76 dollars a barrel amid renewed Strait of Hormuz tensions.

Brent crude traded near $89.76 Tuesday, up 2.3 percent, after President Trump said Iran must pay compensation before Strait of Hormuz talks can resume.

Trump's Compensation Demand Stalls Hormuz Talks Again

August 11, 2026

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Line chart showing Canada's 10-year government bond yield climbing to 3.67 percent, its highest level since May 2026.

Canada's 10-year government bond yield rose to 3.67 percent Monday, its highest level since May, as strong Canadian data collided with a weak US jobs report.

Canada's 10-Year Yield Hits a May High as Data Diverges

August 10, 2026

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Line chart showing the CRA prescribed interest rate holding at 3 percent from 2022 through the third quarter of 2026.

The CRA prescribed rate has held at 3 percent for a fifth straight quarter, covering July through September 2026.

CRA Prescribed Rate Holds at 3 Percent for Q3 2026

August 11, 2026

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Bar chart comparing Barrick Mining's 6.45 percent share price drop against its stronger operating and financial results for the quarter.

Barrick Mining shares fell 6.45 percent on Monday even though second quarter results beat guidance on almost every measure, including a 50…

Barrick's Quarter Beat Guidance. The Stock Fell Anyway

August 10, 2026

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Chart comparing same-day moves across six Canadian-relevant assets on August 10, 2026, including oil, gold, and bond yields.

Six major Canadian-relevant assets diverged Monday: oil and the TSX Composite advanced while the Canadian dollar stayed essentially flat…

Six Assets, One Session: Oil and the TSX Rally While the Loonie and Gold Stay Flat

August 10, 2026

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Line chart showing WTI crude oil prices jumping roughly 4 percent on August 10, 2026.

WTI crude jumped roughly 4.2% by early afternoon Monday after Iran and Washington each pointed to the naval blockade, rather than sanctions…

WTI Crude Oil Jumps as Hormuz Naval Blockade Named the Real Sticking Point

August 10, 2026

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Line chart showing the TSX Composite index climbing to a record close in early August 2026.

The TSX Composite closed at a record 36,381.23 Friday as gold miners rallied on a weak US jobs report while Canadian financials lagged on domestic rate risk.

The TSX Hit a Record Friday on Gold. Monday's Open Favours Oil Instead.

August 10, 2026

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Line chart showing Brent crude oil's daily closing price reversing higher in early August 2026.

Iran's foreign minister set new preconditions for reopening the Strait of Hormuz, demanding sanctions relief and war reparations before any deal takes effect.

Iran Just Told the Market What the June MOU Actually Requires. The Market Priced Something Else.

August 10, 2026

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Line chart tracking the market-implied probability the US Federal Reserve holds rates steady in September 2026.

Market-implied odds that the US Federal Reserve holds its benchmark rate steady in September rose to about 60%, up from roughly one in three a week earlier.

The Fed's Three Dissenters Wanted a Hike. Canada's Data Made Their Case, America's Broke It.

August 10, 2026

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Bar chart comparing Canada's five-year bond yield, mortgage rates, and the CRA prescribed rate as of August 2026.

Canada's five-year bond yield jumped to 3.274% intraday Friday, its highest level in weeks, after July employment beat expectations by nearly fivefold.

Two Rates, Two Stories: The Bond Market Jumped Friday. The Prescribed Rate Did Not.

August 10, 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 ranking six assets by their same-day reaction to July jobs data, led by the Canadian dollar.

USD/CAD fell further on August 7 than any of five other assets moved in either direction, even as the five-year Government of Canada yield…

The Canadian Dollar Led a Six-Asset Reaction to the Same Jobs Data

August 7, 2026

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