TSX Futures Edge Higher as Global Yields Stabilize
Futures tied to Canada's stock market edged higher on Wednesday as global bond yields paused their rally. The pause in the recent surge that had pushed global yields to multi-year highs offered some relief to credit-sensitive sectors such as banking. Still, higher than expected US CPI inflation put pressure on lenders amid uncertainty over the Fed policy outlook. Meanwhile, oil prices extended gains, supporting energy producers. In contrast, lower gold prices weighed on mining stocks. On the data front, construction intentions in Canada rose 8.8% in August from July, well above expectations for a 2.9% increase.
Futures tied to Canada's stock market edged higher on Wednesday as global bond yields paused their rally. The pause in the recent surge that had pushed global yields to multi-year highs offered some relief to credit-sensitive sectors such as banking. Still, higher than expected US CPI inflation put pressure on lenders amid uncertainty over the Fed policy outlook. Meanwhile, oil prices extended gains, supporting energy producers.
In contrast, lower gold prices weighed on mining stocks. 9% increase.