Daily Points

Latest edition · September 2, 2026

dailypoints20260902

Global bond yields are higher and equities lower as US-Iran hostilities push oil prices upward and spark rate hike worries. Ahead of the Bank of Canada's anticipated rate hold at 2.25%, stronger Q2 Canadian GDP and resilient fundamentals suggest rate hikes will be required by December.

On September 2, 2026, global financial markets are witnessing a simultaneous cheapening in equities and government bonds, driven by heightened US-Iran tensions and rising oil prices. In central banking, the RBNZ enacted a 25bps hike to 2.75% but sparked a bull-steepener rally on cautious guidance, while Australia's Q2 GDP beat pushed Australian yields and RBA hike bets sharply higher. In North America, the Bank of Canada is expected to hold its overnight rate at 2.25% while awaiting its October MPR forecast refresh. However, Scotiabank Economics argues that robust domestic growth (Q2 GDP at 3.4%) and closing economic slack will force the BoC to begin hiking in December.

Key takeaways from the latest edition

• 1.Global stocks and bonds are cheapening simultaneously amid renewed US-Iran hostilities, elevated oil prices, and central bank rate hike concerns.
• 2.The Bank of Canada is expected to keep its policy rate unchanged at 2.25% today, holding off on major changes until the October forecast refresh despite strong Q2 GDP growth (3.4%).
• 3.The RBNZ delivered an expected 25bps rate hike to 2.75%, but New Zealand bond yields rallied due to cautious forward guidance capping expected tightening at 50bps.

What this series covers

• Contributors
• On Deck for Wednesday, September 2nd
• KEY POINTS:
• BANK OF CANADA—BUYING TIME FOR OCTOBER'S FORECAST REFRESH
• RBNZ HIKES AND WHY RATES RALLIED
• AUSSIE GDP BEAT, DROVE RBA HIKE BETS HIGHER
• LIGHT N.A. DATA

Edition archive

• dailypoints20260902

  September 2, 2026

• dailypoints20260901

  September 1, 2026

• dailypoints20260828

  August 28, 2026

• dailypoints20260827

  August 27, 2026

• dailypoints20260825

  August 25, 2026

• dailypoints20260817

  August 17, 2026