RESULTS at a glance – 1Q26
The war in Iran dominated market sentiment in the first quarter of 2026, leading stocks to slump in most developed markets amid the uncertainty and supply chain disruptions. Canada’s moderate positive return is thanks predominantly to its energy sector, which benefitted from the conflict’s impact on oil prices. Yields inched higher as inflation expectations increased, while gold managed to rise over the quarter despite retreating from the all-time high price it achieved a month before the conflict.
| MARKETS | QTR-END 31-Mar-26 | YR-END 31-Dec-25 | CHANGE THIS YEAR |
| S&P/TSX Composite | 32,768 | 31,713 | 3.3% |
| S&P 500 | 6,529 | 6,846 | -4.6% |
| EAFE | 2,839 | 2,893 | -1.9% |
| GoC 10-Year | 3.47% | 3.44% | 3bps |
| US Gov 10-Year | 4.31% | 4.14% | 17bps |
| CAD$ / US$ | 0.716 | 0.730 | -1.9% |
| WTIC Oil | $101.38 | $57.42 | 76.6% |
| Gold | $4,554.0 | $4,308.00 | 5.7% |
Returns are based on price change only, and exclude dividends. Foreign indices are in USD.
Source: National Bank Financial, Monthly Market Performance as of March 31, 2026