Friday briefing · October 30, 2026
By Nick LaxtonThe week in markets through Thursday, October 29, prepared for Friday, October 30. Changes compare October 23 with October 29 unless noted. Friday’s trading is not included.
Rates
Canada 10-year: 3.83% → 3.84% · +1 basis point
The Bank of Canada raised its policy rate by a quarter point to 2.50% on Wednesday, a reminder that inflation still matters. Yet the benchmark 10-year Government of Canada yield ended Thursday at 3.84%, just one basis point above last Friday and below Wednesday’s 3.87%. Policy rates and longer-term bond yields can take different paths because bond markets also weigh the outlook for growth and future inflation.
Commodities
October 23–29 · WTI oil −0.56% · Gold futures +0.58%
Oil and gold ended the period close to where they started: reported front-month WTI settlements moved from US$103.44 to US$102.86 a barrel, while gold futures rose from US$4,010.00 to US$4,033.30 an ounce. Thursday alone saw gold slip 0.45%, so a down day still left it slightly higher over the comparison period. The modest net moves are a useful reminder to distinguish the week’s destination from the daily swings along the way.
FX
US$1 = C$1.3993 → C$1.3985 · October 23–29 daily averages
The Canadian dollar ended Thursday almost where it had been last Friday, with one US dollar buying C$1.3985 rather than C$1.3993. That is a roughly 0.06% fall in the Canadian-dollar value of the US dollar, although it rose to C$1.4038 along the way on Tuesday. For Canadians with unhedged US investments, the small net currency move made little difference over this window.
Equities
US week through Thursday · S&P 500 +1.3% · Nasdaq +0.9% · Dow +0.2%
US shares remained ahead for the week through Thursday, with smaller companies doing particularly well: the Russell 2000 gained 3.0%. Thursday told a different story, as Alphabet’s sell-off pulled the Nasdaq down 1.4% and the S&P 500 down 0.3%. Most stocks still rose that day, showing how a few large companies can dominate the headline index.
- Bank of Canada policy decision, October 28, and benchmark bond yields, October 23, 28 and 29. Yield changes are in basis points, not bond returns.
- Strong Tower Advisors market snapshot, October 23, and October 29 snapshot. Commodity figures are reported front-month futures settlements in USD; changes calculated from those observations are price comparisons, not an investable futures total return, and may be affected by contract rolls.
- Bank of Canada daily exchange rates, October 23–29. Indicative daily averages, not closing spot prices. USD change in CAD calculated as 1.3985 ÷ 1.3993 − 1.
- Associated Press index results, October 29. US equity changes are price-index moves in USD, excluding dividends, from the prior Friday through Thursday.
Commentary offers general market context and does not describe actual Fieldhouse returns or trading activity.
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