Futures tracking Canadian equities edged lower on Thursday as a sharp rise in global government bond yields weighed on stock markets. Canada’s 10-year government bond yield neared a three-year high as energy-driven inflation concerns persisted and US Treasury yields soared to multi-decade highs.
Crude oil rose amid heightened Middle East tensions, while strong economic data released on Wednesday drove US yields higher, intensifying the global move amid rising expectations of another Fed hike this year. Concerns over elevated borrowing costs have weighed heavily on credit-sensitive stocks.
Gold prices fell amid surging Treasury yields, pressuring mining stocks. Elsewhere, BlackBerry reported strong 2Q26 results, with EBITDA surging 81%. On the data front, Canadian retail sales likely rebounded in August, according to preliminary estimates, which point to the strongest gain since January.
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