Canada – Markets, Housing & Trade
| Index | Weekly Move |
|---|---|
| S&P/TSX Composite | ▼ –1.85 % |
| S&P/TSX 60 | ▼ –1.70 % |
Key Points
- Mortgage Renewals Surge: ~60 % of mortgages reset in 2025-26; households that locked ultra-low pandemic rates face payment shocks.
- Trade Uncertainty: BoC warns a prolonged tariff fight with the U.S. could slow growth, lift unemployment and raise credit-loss risks for banks.
- Private-Debt Flow: 6 May – Énergir placed C$300 m of 30-yr first-mortgage bonds @ 4.65 %, showing deep demand for long IG paper.
- Equity Sentiment: Materials & industrials led the slide on softer commodities and tariff angst.
U.S. – Moody’s Cut & Tariff Fears
| Index / Yield | Weekly Move | Note |
|---|---|---|
| S&P 500 | ▼ –2.61 % | Rating cut hits risk sentiment |
| Nasdaq | ▼ –2.39 % | Apple sell-off drags tech |
| Dow Jones | ▼ –2.47 % | Broad industrial weakness |
| 10-Yr Treasury | ▲ 4.50 % (+1.43 bp) | Yields rise on deficit worries |
Stocks in Focus
| Ticker | Weekly Move | Highlights |
|---|---|---|
| Apple (AAPL) | ▼ –7.5 % | 25 % iPhone-tariff threat + legal headwinds (search deal, App Store) |
| Alphabet (GOOGL) | ▲ +1.4 % | Google I/O AI launches (Gemini 2.5 Pro, AI mode, AR glasses) lift sentiment |
Why It Matters
- Mortgage resets may squeeze Canadian consumer spending.
- Tariff deadlock + Moody’s cut widen credit spreads and pressure risk assets on both sides of the border.
- Central-bank signals will steer borrowing costs and market direction into summer 2025.
