TSX Edges Lower as Yields Rise and Tariff Risks Linger

The S&P/TSX Composite Index edged lower to trade arround 36,500 on Tuesday amid rising global bond yields and continued uncertainty in the Middle East.

Oil prices gained as hopes of a US-Iran peace deal faded, raising concerns over energy-driven inflationary pressures.

Bond yields moved higher, pressuring financials and the broader market.

RBC and TD Bank shed nearly 1% each, while BMO, Scotiabank and CIBC lost more than 0.5%.

Gold prices slipped, weighing on mining stocks.

Barrick lost about 0.5%, WPM fell nearly 2%, and Franco-Nevada shed more than 1%.

Elsewhere, NexGen Energy (-3.5%) is sharing information and “talking regularly” with mining giant BHP about its Rook I mining project in Saskatchewan, CEO Leigh Curyer said when asked about a potential equity stake.

On the data front, home sales rose less than expected in July.

Separately, Canada faces a new round of 50% US tariffs this week, with negotiators from the two countries still far from reaching a draft trade deal.