Toronto stocks slip as commodity stocks drag, rising yield weigh

Oct 23 - Canada's main stock index fell to a two-week low on Monday as weaker commodity prices sparked a sell-off in energy and material sectors, while rising government bond yields kept equities under pressure.

The energy sector lost 0.9% after oil prices fell over $1 per barrel as investors assessed diplomatic efforts, which attempt to contain the geopolitical turmoil in the Middle East. Gold prices came off five-month highs following a spike in Treasury yields, while copper prices tumbled to eleven-month lows on China's property crisis and receding hopes of stronger stimulus in the top consumer of industrial metals.

Rate-sensitive real estate sector fell 0.7%, while the information technology sector was down 0.4%.Investors also braced for Bank of Canada's interest rate decision, due Wednesday. The central bank is expected to hold rates at a 22-year high of 5.00%, according to a majority of economists polled by Reuters.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street drifts lower as pressure rises from the bond marketNEW YORK (AP) — Wall Street is drifting lower in early trading as pressure from the bond market continues to build. The S&P 500 was down 0.5% early Monday. The Dow lost 171 points, and the Nasdaq composite was off 0.6%.
Source: SooToday - 🏆 8. / 85 Read more »

US futures sink after 10-year Treasury yield tops 5%: Stock market news todayThe 10-year Treasury yields passed a key milestone, underlining the 'new normal' of higher-for-longer rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

A Shrinking $1.3 Trillion Securities Market Is Bad News for the Economy(Bloomberg) -- For a fleeting moment this month, investment bankers in leveraged finance — the lucrative lending that oils the wheels of M&A and feeds the...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

A Shrinking $1.3 Trillion Securities Market Is Bad News for the EconomyAbout 40% of issuers in this crucial area of corporate finance are yet to price a new deal this year. That’s an unwelcome signal for Wall Street — and business.
Source: BNNBloomberg - 🏆 83. / 50 Read more »