Monthly market snapshot

Monthly Overview. September was a volatile month for investors. In the U.S., markets were influenced by rising bond yields, persistent inflation concerns and geopolitical tensions, which increased uncertainty. Despite these headwinds, the technology heavy Nasdaq Composite outperformed, driven by ongoing enthusiasm for artificial intelligence and large-cap technology companies. At times, government bond yields climbed above 5% on the 10-year U.S. Treasury, fueling concerns that interest rates could remain higher for longer and putting pressure on many sectors. 

Monthly Overview.  S&P/TSX Composite Index reached a record high during the month before ending slightly lower, while the S&P 500 Index and Nasdaq-100 Index recorded their strongest August returns since 2021. The Nasdaq also snapped a twomonth losing streak. Meanwhile, U.S. Treasury yields climbed to multi-year highs. The 30-year Treasury yield reached 5.34% in August, its highest level since 2007, while the 10-year Treasury yield rose to 4.76%, the highest in 17 months.

Monthly Overview. Equity markets remained volatile in July as investors weighed concerns around AI-related spending, higher oil prices, and ongoing geopolitical tensions in the Middle East. Rising oil prices supported energy stocks and improved sentiment toward Canadian resource companies, particularly after the U.S. exempted energy and critical minerals from its proposed tariffs on Canadian imports.

Monthly Overview. In June, worldwide enthusiasm about artificial intelligence (AI) remained strong, leading to broader participation across global equity markets. Canadian equities posted modest gains during the month, although returns varied significantly by sector. In the U.S., market participation widened as small-cap and equal-weight equity benchmarks outperformed their largecap counterparts, with investors rotating away from AI hyperscalers and toward more defensive sectors and small-cap equities.