Morning Money — Thursday, September 24, 2026
The bond market is back in charge. Rising oil prices and inflation worries are pushing borrowing costs higher: the U.S. 10-year Treasury yield reached about 5.14%, its highest since 2007, while Canada’s 10-year has approached 3.95%. The Canadian takeaway: fixed mortgage rates can face upward pressure even without a fresh Bank of Canada hike. U.S. market report · Canadian bond report
EARLY PREMARKET SNAPSHOT
• U.S. futures were lower at 5:47 a.m. ET: Nasdaq 100 −1.10%, S&P 500 −0.62%, Dow −0.36%. Brent crude was near US$105.49 as progress toward a U.S.–Iran diplomatic resolution remained limited. Market report
• Gold was down about 0.5% at 4:40 a.m. ET. Higher yields make interest-paying assets more competitive with gold. Gold report
• BlackBerry’s fiscal second-quarter results are on today’s agenda, with its earnings call scheduled for 8 a.m. ET. Company announcement
WHY IT MATTERS
Our read: stronger oil can help Canadian energy producers, but more expensive fuel and borrowing are a tougher combination for households and many businesses. That makes today’s market story more complicated than simply “oil up, Canada wins.”
WHAT TO WATCH
Whether bond yields settle down as North American trading opens, and whether Middle East diplomacy brings relief to energy prices. Early quotes are snapshots—not opening prices.
