Markets opened the year with a cautious tone as shifting interest-rate expectations drove performance across asset classes. Equity returns were mixed, with volatility increasing as higher bond yields weighed on growth stocks, while value-oriented and cyclical sectors showed relative resilience. U.S. equities were choppy, Canadian markets benefited from commodity strength, and international developed equities benefited from a softer U.S. dollar. Emerging market performance was uneven, with gains in parts of Asia offset by underperformance in Latin America and rate-sensitive markets as higher global yields weighed on capital flows. Fixed income faced modest pressure as government bond yields rose, leading to slightly negative returns for longer-duration assets, though credit markets remained stable, supported by carry and contained spreads.
Victoria Day weekend closures
We will be closed May 16 and 18 for Victoria Day weekend. Our Member Service Centre, Member Solutions Team and Personal Assisted Teller services will be available on May 16. Online/mobile banking will be accessible throughout the weekend.