S&P/TSX Composite Index Extends Losses For Third Day As Bond Yields Stay High

10:16 AM EDT, 09/25/2026 (MT Newswires) -- The S&P/TSX Composite Index was lower in mid-morning trade on Friday, shedding 55 points as US bond yields remained elevated. Shares in the energy and telecommunications were the weakest performers. The energy sector was last seen down 1.2%. Crude oil prices dropped on hopes that a diplomatic solution to re-opening the Strait of Hormuz would be possible. The telecommunications sector edged down 0.9%. The financials sector, up 0.5%, was the strongest performer at last look. Rising bond yields continued to impact stock markets for the third day. The 30-year Treasury bond yield hit 5.49%, while the 10-year Treasury note yield jumped to 5.19%. In economic news, Canada's advance estimate for wholesale sales--excluding oil, oil products and other hydrocarbons, along with oilseed and grain--declined 1.5% month over month in August, Statistics Canada said Friday. The agency noted that this estimate was based on a weighted response rate of 68.6%, compared with the average final response rate to the survey over the 12 preceding months of 83.7%. In stocks, Air Canada (AC.TO) shares fell 6% to CA$27.23, after it reported preliminary results of its CA$800 million substantial issuer bid. The company said 66.8 million shares were tendered, and it expects to take up and pay for 27.6 million shares at CA$29.00 each.