The Canadian Index

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Step chart of Bank of Canada and US Federal Reserve policy rates, January 2025 to September 2026, showing the two paths diverging.

Both central banks cut through 2025 before separating in September, when the Federal Reserve raised its target range on concerns that energy-driven inflation was broadening.

Bank of Canada and Federal Reserve Policy Rates Diverge

September 24, 2026

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Column chart of the Canadian lifetime capital gains exemption limit rising from $800,000 in 2014 to $1,275,000 in 2026.

The exemption shelters gains on qualifying small business shares and farm or fishing property, and it operates separately from the capital…

Lifetime Capital Gains Exemption Climbs to $1.275 Million

September 24, 2026

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Line chart of the Cboe VIX volatility index from late August to September 23, 2026, hovering in the mid-teens.

The VIX estimates how much the options market expects stocks to move over the next thirty days, so it can stay quiet while individual sessions are violent.

VIX Stays Subdued While the TSX Swings

September 24, 2026

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Line chart of S&P/TSX Composite daily closes from August 20 to September 23, 2026, ending with a sharp drop.

The S&P/TSX Composite fell on September 23, 2026, even as crude oil rallied, because losses in gold miners outweighed modest gains in energy stocks.

TSX Composite Falls Despite an Oil Rally as Gold Stocks Slide

September 23, 2026

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Bar chart of percentage moves in crude oil, gold, silver, TSX sectors and the Canadian dollar on September 23, 2026.

Brent crude jumped on September 23, 2026, yet the Canadian dollar weakened for a third session as rising US rate expectations outweighed oil.

Brent Jumps While the Canadian Dollar and TSX Fall in the September 23 Session

September 23, 2026

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Line chart of the S&P/TSX Composite rebounding from a September 16 low to a one-month high on September 22, 2026.

The S&P/TSX Composite rebounded to a one-month high on September 22, 2026, recovering from a September 16 low set on the day the US Federal Reserve raised its policy rate.

The TSX Hit a One-Month High on Tech and Base Metals While Energy Keeps Falling

September 23, 2026

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Line chart of WTI crude front-month futures rising to a September 15 peak, then falling into September 18, 2026.

WTI crude surged in late August and early September 2026 on concerns about shipping through the Strait of Hormuz, peaking on September 15 before diplomatic signals began to emerge.

The Oil Market Has Priced a Hormuz Outcome That Has Not Happened Yet

September 23, 2026

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Line chart comparing Bank of Canada and US Federal Reserve policy rates monthly from January to September 2026.

The Bank of Canada held its policy rate on September 2, 2026, its seventh consecutive hold this year, citing strong second-quarter growth alongside rising inflation risk.

The Bank of Canada Has Held Seven Times This Year. The Fed Just Broke Its Own Pattern.

September 23, 2026

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Bar chart of the annual Tax-Free Savings Account contribution limit for each year from 2009 to 2026.

The annual Tax-Free Savings Account limit is set to rise to $7,500 in 2027, based on the Canada Revenue Agency's indexation formula and inflation data already published.

The 2027 TFSA Limit Is Already Locked In at $7,500

September 23, 2026

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Line chart of the Nasdaq Composite climbing through the September 16 Fed rate hike to September 22, 2026.

The Nasdaq Composite has kept climbing since the US Federal Reserve raised its policy rate on September 16, 2026, its first increase in…

Investors Keep Buying the Rally Wall Street Just Called a Late-Stage Bubble

September 23, 2026

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Line chart of copper futures rising for seven straight sessions through September 22, 2026.

Copper futures rose for a seventh straight session on September 22, 2026, supported by warnings that global mined output could fall this…

Copper Extends a Seven-Session Rally on Supply Deficit Warnings

September 22, 2026

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Line chart of WTI crude oil futures sliding for six straight sessions after a September 10, 2026 peak.

WTI crude closed lower for a sixth straight session on September 22, 2026, after peaking on September 10, as diplomatic signals from the UN…

WTI Crude Falls for Six Straight Sessions on Hormuz De-escalation Hopes

September 22, 2026

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Line chart of gold futures falling from an August 27 peak to a six-week low on September 21, 2026.

Gold fell to its lowest level in six weeks on September 21, 2026, with the decline accelerating after the US Federal Reserve raised rates on September 16.

Gold Falls to a Six-Week Low as the Fed Hike Outweighs the War Premium

September 22, 2026

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Indexed line chart comparing WTI crude oil with the TSX energy sector from August 31 to September 16, 2026.

WTI crude rose sharply in early September 2026 as the Strait of Hormuz crisis continued, peaking on September 10.

The Hormuz Premium Did Not Show Up in Canadian Energy Stocks

September 22, 2026

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Line chart comparing Bank of Canada and US Federal Reserve policy rates at each decision from January 2025 to September 2026.

The US Federal Reserve raised its policy rate on September 16, 2026, its first increase in three years, citing persistent energy and consumer price pressure.

Why the Fed Just Broke Rank With the Bank of Canada

September 22, 2026

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Step chart of the Canada Revenue Agency's quarterly prescribed interest rate from 2022 through the fourth quarter of 2026.

The Canada Revenue Agency's prescribed interest rate stays unchanged for the fourth quarter of 2026, the sixth straight quarter at the same…

The Prescribed Rate Has Not Been This Flat in Four Years

September 22, 2026

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Line chart of the VIX volatility index spiking on the September 16 Fed rate hike, then easing back within four sessions.

The US Federal Reserve raised its policy rate on September 16, 2026, its first increase in three years, ending two years of consecutive cuts.

The Anchoring Bias Behind the Fed Rate Shock

September 22, 2026

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Line chart of the TSX Composite as Canadian bond yields stayed elevated despite falling oil prices.

The Government of Canada 10-year bond yield closed near 3.94 percent in mid-September, largely unchanged from before oil began its decline,…

TSX Slides as Canadian Bond Yields Stay Elevated Despite Falling Oil

September 21, 2026

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Line chart showing WTI crude oil declining over four sessions amid a Hormuz shipping data dispute.

Crude oil has fallen for four straight sessions, with the U.S.

Oil Falls for a Fourth Session as Hormuz Shipping Data Is Disputed

September 21, 2026

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Line chart of the TSX Composite over a volatile week in which only the energy sector posted a gain.

The TSX Composite closed the week at 35,806.65, down 67.61 points Friday with decliners outnumbering advancers by roughly 400.

The TSX Closed a Volatile Week at 35,806.65. Energy Was the Only Sector That Actually Held.

September 21, 2026

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Line chart showing WTI crude oil falling for four sessions as diplomatic hopes with Iran rose.

WTI crude has fallen for four straight sessions, down to $94.01 from a September 10 peak of $102.48, after reports that President Trump is…

The Strait of Hormuz Priced In a War. This Week It Started Pricing an Exit.

September 21, 2026

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Line chart showing the Government of Canada five-year bond yield climbing through August and September.

Canadian headline inflation held at 3.0 percent year over year in August, matching July, but the underlying number worsened: inflation…

The Bond Market Already Moved Before the Bank of Canada Has To

September 21, 2026

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Bar chart showing the RRSP dollar contribution limit rising to $33,810 for the 2026 tax year.

The RRSP dollar contribution limit rose to $33,810 for 2026, up from $32,490, and is already legislated to reach $35,390 in 2027.

The Prescribed Rate Has Not Moved in Six Quarters. The Bond Market Suggests That Is About to Change

September 21, 2026

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Line chart of the VIX volatility index easing even as investor-reported bearish sentiment hit a 16-month high.

Investor-reported fear and market-priced fear told different stories this month.

The Fear Investors Report and the Fear the Market Is Pricing Have Split

September 21, 2026

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