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.
August Civic Holiday weekend closures
We will be closed August 1 and August 3 for the Civic Holiday weekend. Our Member Service Centre, Member Solutions Team and Personal Assisted Teller services will be available on August 1 during regular business hours.