# Surging bond yields spook investors, capping Canadian dollar gains - The Globe and Mail

> The Canadian dollar edged higher on Tuesday as oil prices rose, but gains were capped by rising global bond yields. The U.S. 10-year yield hit a 12-year high and Wall Street entered a bear market. Oil was supported by supply curbs in the U.S. Gulf of Mexico ahead of Hurricane Ian, with U.S. crude settling 2.3% higher at $78.50.

- Date: 2022-09-27 · published 2022-09-27T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/39815-surging-bond-yields-spook-investors-capping-canadian-dollar-gains-the-globe-and
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Gulf of Mexico production curbs and hurricane risk can tighten energy supply and lift diesel and freight costs for feed mills. Rising yields and recession fears point to weaker demand for commodities overall.

## Read by commodity

- WTI: bullish ▲
- DIESEL: bullish ▲
- USDCAD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-07-29 | [Canadian dollar gains as investors sell greenbacks on ‘downbeat’ Fed - The Globe and Mail](https://feedsoft.ai/events/52351-canadian-dollar-gains-as-investors-sell-greenbacks-on-downbeat-fed-the-globe.md) | +1.8% | +5.6% |
| WTI | 2022-12-20 | [Canadian dollar gains as investors weigh Bank of Japan’s policy shift - The Globe and Mail](https://feedsoft.ai/events/38457-canadian-dollar-gains-as-investors-weigh-bank-of-japan-s-policy-shift-the-globe.md) | +5.8% | +7.0% |
| WTI | 2019-01-29 | [Canadian dollar dips as investors turn attention to Fed - The Globe and Mail](https://feedsoft.ai/events/61320-canadian-dollar-dips-as-investors-turn-attention-to-fed-the-globe-and-mail.md) | +5.2% | +6.8% |
| WTI | 2021-02-25 | [Canadian dollar retreats from three-year high as U.S. bond yields soar - The Globe and Mail](https://feedsoft.ai/events/48889-canadian-dollar-retreats-from-three-year-high-as-u-s-bond-yields-soar-the-globe.md) | -3.0% | -3.3% |
| WTI | 2022-04-21 | [Canadian dollar adds to recent gains on hawkish BoC outlook - The Globe and Mail](https://feedsoft.ai/events/42108-canadian-dollar-adds-to-recent-gains-on-hawkish-boc-outlook-the-globe-and-mail.md) | -0.6% | +6.8% |
| DIESEL | 2022-11-04 | [Canadian dollar posts biggest gain in 12 years as jobs surge](https://feedsoft.ai/events/38913-canadian-dollar-posts-biggest-gain-in-12-years-as-jobs-surge.md) | -2.7% | -25.0% |
| DIESEL | 2025-05-28 | [Oil gains on supply concerns, investors await July OPEC+ output decision](https://feedsoft.ai/events/24836-oil-gains-on-supply-concerns-investors-await-july-opec-output-decision.md) | +0.9% | +10.9% |
| DIESEL | 2023-11-30 | [Canadian Dollar rallies into the green on Thursday despite mixed Canadian GDP results: Analytics and Market news from 30 November 2023 16:12](https://feedsoft.ai/events/33405-canadian-dollar-rallies-into-the-green-on-thursday-despite-mixed-canadian-gdp.md) | -10.9% | -12.3% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-rebounds-from-two-year-low-as-wall-street-rallies/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.