The Globe and Mail reports in its Wednesday edition that North American stock indexes ended the session slightly lower on Tuesday, as government bond yields continued their ascent ahead of U.S. inflation and labour market data. A Reuters dispatch to The Globe says longer-dated U.S. Treasury yields rose, with the 30-year bond hitting 5.6206 per cent, its highest since June, 2002. The yield on the benchmark 10-year Treasury bond climbed to 5.293 per cent -- its highest level since June, 2007. The yield on Canada's 10-year government bond rose modestly as well, hovering near 4 per cent. Stocks pared declines, however, as yields eased from their earlier highs and shorter-duration yields were down on the day as oil prices retreated on signs of a recovery in exports from the Middle East. Expectations for a rate hike of at least 25 basis points from the Fed at its October meeting declined to 51.5 per cent. The S&P/TSX composite ended down 29.59 points at 35,460.27, marking its lowest closing level since July 31. Canada's gross domestic product was unchanged in July compared with June, matching expectations. The energy sector fell 1.3 per cent as U.S. crude oil futures settled 3.5 per cent lower at $89.38 (U.S.) a barrel.
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