TSX futures slip as global bond selloff lifts yields; oil swings
EWC•December futures on Canada’s S&P/TSX index fell 0.4% as global bond yields climbed to multi-decade highs and oil prices swung. The 10-year U.S. Treasury yield reached 5.34%, while its Canadian equivalent rose to 3.99%.
1. Futures and yields
December futures on the S&P/TSX index were down 0.4% at 6:27 a.m. ET as a global bond selloff pushed borrowing costs higher. The 10-year U.S. Treasury yield rose to 5.34%, its highest level since 2002, while the Canadian 10-year yield reached 3.99%, near its highest since 2023.
2. Oil and market context
Oil prices swung after crude fell more than 1% in early trading and later rebounded; benchmark prices rose more than 2% after China suspended oil products exports. Investors also assessed diplomatic efforts to end the U.S.-Iran war. The S&P/TSX Composite ended a five-month winning streak in September but recorded a ninth consecutive quarterly gain, its longest such streak on record. September Canadian PMI data were due later in the day.
