S&P/TSX Composite slips after Canada CPI; yields rise
The S&P/TSX Composite Index fell 0.2% to 36,668 on Monday after Canada CPI rose 3.0% (vs 2.9% forecasts), with bond yields higher and equities led by financials and tech lower.
2% lower to close at 36,668 on Monday following the release of CPI data, after reaching a record high on Friday. 9%. Core inflation measures tracked by the Bank of Canada also edged higher, largely reinforcing expectations that the central bank will keep interest rates unchanged this year. Tensions in the Middle East persisted, with little sign of a near-term resolution.
Oil prices rose, raising concerns over energy-driven inflationary pressures. Bond yields moved higher, tracking a surge in long-term US Treasury yields. Financials lost ground, with RBC, TD Bank and BMO edging lower. 2%.
1%) declining.