Investment markets performed strongly in Q3 2025, with major global equity indices reaching new highs by September 30th. Both Canadian and US bonds rose, and gold hit a record high on the quarter's final day. Market performance was driven by anticipated and delivered interest rate cuts from the US Federal Reserve and Bank of Canada in September, though economic data showed a clear divergence between the two economies, with Canada's significantly weaker.
THIRD QUARTER HIGHLIGHTS
- • S&P/TSX Composite hits a new all-time high of 30,066.60 on September 23rd
- • S&P 500 hits a new all-time high of 6,699.52 on September 23rd
- • Canadian dollar was range bound, ending the quarter at $0.7186
- • WTI Oil was range bound, ending the quarter at $67.02 USD per barrel
- • Bank of Canada lowered the overnight rate by 0.25% to 2.5%
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