Canada – Market, Housing & Mortgages
| Index | Weekly Move |
|---|---|
| S&P/TSX Composite | ▲ +0.97 % |
| S&P/TSX 60 | ▲ +0.58 % |
Market Highlights
- BoC on Hold (4 Jun): The Bank of Canada kept its policy rate at 2.75 % and signalled a “wait-and-see” approach—variable-rate mortgage costs remain unchanged for the summer.
- Bond-Yield Spike (6 Jun): The 10-yr Government of Canada yield touched 3.34 %, a two-week high—raising bank funding costs and pressuring 5-yr fixed mortgage rates.
- CMHC Buyer Survey (3 Jun): 79 % of first-time buyers still view homeownership as a “good investment,” and 74 % believe they locked a “good rate”—supporting demand for insured mortgages and CMHC-backed MBS issuance.
U.S. – Jobs Beat, Tariff-Truce Talk & Stock Rotation
| Index / Yield | Weekly Move | Note |
|---|---|---|
| S&P 500 | ▲ 1.5 % | Payroll beat + easing trade tone |
| Nasdaq | ▲ 1.97 % | Tech rebound leads gains |
| Dow Jones | ▲ 1.17 % | Broad industrial strength |
| 10-Yr Treasury | ▲ 4.505 % (+2.45 bp) | Yields edge higher on growth hopes |
Market Highlights – U.S.
- Non-farm Payrolls: 139 k jobs added in May (vs 126 k exp.)—signals moderate growth and a controlled cooldown in hiring.
- ISM Services (May): Index surged to 53.7 from 50.8—clear acceleration in the economy’s largest sector.
- Tariff “Cease-fire” Talk: Trump floated easing China-U.S. tensions, tempering tariff fears and supporting sentiment.
Stocks in Focus
| Ticker | Weekly Move | Highlights |
|---|---|---|
| TSLA | ▼ -14.8 % | Trump–Musk clash; threat to federal contracts drove shares to a two-month low |
| META | ▲ +7.8 % | Unveiled AI-driven auto-ad tool; heavy AI capex boosts long-term monetization, though brands weigh control concerns |
Why It Matters
- Canada: Rising bond yields and a massive mortgage-renewal wave threaten consumer budgets and credit spreads; BoC and CMHC remain key stabilizers.
- United States: Positive jobs data and service-sector strength lift equities, but faster wage growth and tariff rhetoric keep inflation and Fed timing in focus.
