Canada stocks—TSX futures slide as bond yields surge ahead of retail sales data
EWC•December S&P/TSX futures fell 0.48% as global bond yields rose, with investors awaiting Canadian retail sales data. The U.S. 10-year Treasury yield reached 5.139%, its highest level since 2007, while Canada's 10-year yield climbed to 3.953%.
1. Futures retreat
Futures tracking Canada's blue-chip stocks fell 0.48% on Thursday as a sharp rise in global government bond yields weighed on sentiment. Investors awaited retail sales data for clues about the health of Canadian consumers.
2. Yields and commodities
The U.S. 10-year Treasury yield rose to 5.139%, its highest level since 2007, while the Canadian equivalent climbed to 3.953%. Gold fell 0.5% to $4,265.89 an ounce and silver dropped 1.2% to $63.72 an ounce. Oil prices rose more than 2%.
3. Market and company news
The TSX posted its biggest one-day decline since June 5 on Wednesday, with financial and materials stocks among the biggest drags. BlackBerry was scheduled to report quarterly results on Thursday.
