TSX May Start Lower As Bond Selloff Continues, Oil Prices Slip
Canada's benchmark index may kick off the trading week on a negative note, weighed down by the continuous selloff in the bond market and by the weakness in oil prices . Stock futures for the June quarter on the S&P TSX index were up only 0.07% at 8.56am E.T.
The 10-year Bund yields continued to rise, making equities less attractive. The 10-year Bund yields, according to a Reuters report, gained 4 basis points in the first hour of trade in Europe.
Meanwhile, prices for both Brent crude and WTI crude dropped in reaction to OPEC's decision of maintaining output at high levels despite problems with supply.
The TSX shed 62 points at closing on Friday due to falling gold and utility stocks.
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