Friday briefing · October 23, 2026
By Nick LaxtonA quick look at the week so far, prepared Thursday, October 22 for Friday morning. Figures cover the dates shown below; Friday’s trading is not included.
Rates
Canada 10-year: 3.84% → 3.90% · October 16–21 · +6 basis points
US government bonds gained on Thursday as investors looked for shelter from stock-market uncertainty, pushing yields lower. In Canada, the latest available 10-year yield was 3.90% on Wednesday, up from 3.84% last Friday, so the direction depends on both the market and the dates being compared. Falling yields can help bonds soften a setback in shares, although corporate bonds also depend on the outlook for borrowers.
Commodities
Thursday pre-market snapshot · Brent US$111.39/bbl · December gold US$4,105/oz
Oil rose in Thursday morning trading amid Middle East concerns, with Brent up 2.36%, while December gold and silver futures fell 1.08% and 2.39% respectively against the briefing’s reference prices. Higher oil prices can add to inflation pressure and household costs, even when other commodities are falling. Gold, silver and oil respond to different forces, so it helps to look at each separately.
FX
US$1 = C$1.4154 → C$1.4021 · October 16–22 daily averages
The Canadian dollar strengthened against the US dollar between last Friday and Thursday, with one US dollar buying C$1.4021 compared with C$1.4154 a week earlier. That is a decline of about 0.94% in the Canadian-dollar value of a US dollar. For Canadians holding US-dollar investments without a currency hedge, the stronger loonie reduces their value in Canadian dollars, even if the investment’s US-dollar price stays the same.
Equities
US week to Thursday · S&P 500 +0.1% · Nasdaq −0.5% · Dow +1.7%
By Thursday’s close, US shares had a mixed week: the Dow was up 1.7%, the S&P 500 edged up 0.1% and the Nasdaq slipped 0.5%. Thursday itself was tougher for technology shares, pulling the S&P 500 down 1.2% even though most US stocks rose. It is a useful reminder that the biggest companies can drive the headline index while much of the market has a different day.
- Bank of Canada: selected benchmark bond yields, October 16 and 21. The October 22 observation was not available on the retrieved page; basis-point change calculated here.
- Cannon Trading: October 22 pre-market briefing. Commodity figures are morning snapshots, not Thursday settlements or weekly returns; gold and silver refer to December futures.
- Bank of Canada: daily exchange rates, October 16 and 22. Indicative daily averages, not closing spot rates. Percentage change calculated as 1.4021 ÷ 1.4154 − 1.
- Associated Press: US index results, Thursday October 22. Equity figures are price-index changes in USD, excluding dividends; the week-to-date window ends Thursday. AP market report provides the Treasury and oil context.
Commentary offers general market context and does not describe actual Fieldhouse returns or trading activity.
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