TSX Futures Edge Lower Amid Global Bond Rout
Futures tracking the TSX inched lower on Thursday as a global bond rout pushed borrowing costs to multi-decade highs amid volatile oil prices. Global bonds extended their selloff, weighing on broader markets. The Canadian 10-year yield eased on Thursday but remained near multi-year highs. Oil prices rose further on reports of tighter Chinese fuel supplies, fueling persistent energy-driven inflation concerns, pushing yields higher and pressuring credit-sensitive sectors. Meanwhile, miners were set to open higher as gold prices climbed amid reduced expectations for another Fed interest-rate hike this month, after softer-than-expected US PCE inflation data eased rate-hike concerns. Canada’s September PMI data, due later in the day, will offer a read on business activity.
Story updates
Futures tracking the TSX inched lower on Thursday as a global bond rout pushed borrowing costs to multi-decade highs amid volatile oil prices. Global bonds extended their selloff, weighing on broader markets. The Canadian 10-year yield eased on Thursday but remained near multi-year highs. Oil prices rose further on reports of tighter Chinese fuel supplies, fueling persistent energy-driven inflation concerns, pushing yields higher and pressuring credit-sensitive sectors.
Meanwhile, miners were set to open higher as gold prices climbed amid reduced expectations for another Fed interest-rate hike this month, after softer-than-expected US PCE inflation data eased rate-hike concerns. Canada’s September PMI data, due later in the day, will offer a read on business activity.