The first quarter of 2026 delivered a dramatic swing in markets, beginning with a record run in Canadian equities before a sharp reversal in commodities and an abrupt shift in risk sentiment. The capture of Nicolas Maduro drew headlines, private credit rang alarm bells of imprudence and AI scared SaaS (Software-as-a-Service) providers in their boots but the real story was the volatility in resource markets: gold and silver sold off, then rebounded, while oil moved from a five-year low to a four-year high after the U.S. and Israel attacked Iran.
FIRST QUARTER HIGHLIGHTS
- • S&P/TSX Composite hits a new all-time high of 34,541.27 on March 2nd
- • S&P 500 hit an 8-month low of 6,343.72 on March 30th
- • Canadian dollar hit a 16-month high of $0.739 on January 30th
- • WTI Oil hit a 4-year high of $104.69 USD per barrel on March 30th
- • Bank of Canada maintained the overnight rate at 2.25%
READ MARKET & ECONOMIC SUMMARY
