TSX slips as financial shares lead losses and global yield surge weighs
EWC•EWC•EWC•EWC•Canada’s S&P/TSX Composite fell 0.6% to 35,022.38 points, with financial shares leading losses as global bond yields climbed to multi-decade highs. Technology and energy shares rose, limiting the decline.
Nine of the TSX’s 11 major sectors traded lower, led by financials, which fell 1.7%. EQB, Bank of Montreal and Royal Bank of Canada each declined more than 2%.
The 10-year U.S. Treasury yield rose to 5.34%, its highest level since 2002, while the Canadian 10-year yield reached 4.01%, near its highest since 2023. Technology shares rose 2.3%, tracking optimism around U.S. technology stocks after Micron Technology’s better-than-expected revenue forecast, while energy shares gained 1.2% as oil prices rallied. Canada’s manufacturing PMI eased to 51.5 in September from 53.0 in August, its slowest pace of growth in six months.
