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5 Things to Know Today: Gas Tax Holiday Extended to 2027, BoC Holds, TSX Rebounds

  September 3, 2026 A big one for your wallet just landed: Ottawa is keeping the gas tax break alive well past Labour Day. Here's what else moved markets and money in Canada today. 1. Gas tax holiday extended to January 31, 2027 The federal fuel excise tax break that was set to expire on Labour Day (Sept. 7) isn't going anywhere. Finance Minister François-Philippe Champagne confirmed the suspension of the 10-cent-per-litre gasoline excise tax and 4-cent-per-litre diesel tax will now run until January 31, 2027, before being phased back in at half-rate from Feb. 1 to March 31 and fully restored April 1. Ottawa first introduced the break in April to offset oil-price shocks tied to the Iran war. What it means for you: The scheduled Sept. 8 jump of 10–11 cents a litre is off the table for now. CAA pegged the national average at 172.9 cents/litre this week — budget around that level rather than the higher price many drivers had braced for. 2. Bank of Canada holds rate at 2.25% for a...
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Treasuries Extend Selloff Amid Hawkish Fed Views


The world’s largest bond market is experiencing continued turbulence as hawkish Federal Reserve (Fed) views persist. Here are the key points:

  1. Asian Stocks Under Pressure: Asian stocks are set to open lower after US shares extended their losing streak to the longest since January. Equity futures contracts in Japan, Hong Kong, and South Korea indicate early losses, while those in Australia and China gained. Investors will closely watch Asian chipmakers like Taiwan Semiconductor Manufacturing Co. and Tokyo Electron Ltd.

  2. ASML Holding NV’s Warning: Europe’s most valuable tech firm, ASML Holding NV, reported a tumble in orders during the first quarter. Its China sales are likely to be hampered by US export control measures. This news has raised concerns for semiconductor stocks.

  3. US Bond Market: Despite solid economic readings, the US bond market faces headwinds. Jerome Powell’s recent comments have dampened rate-cut expectations. However, dip buyers emerged in the Treasury market, with two-year yields dropping below 5%. A $13 billion sale of 20-year bonds also drew solid demand.

  4. Investor Sentiment: Investors remain skeptical about how much further US stocks can rally after their strong performance in the first quarter. The latest pullback occurs even as US economic data point to continued strength.

  5. Dollar and Currencies: The dollar was little changed in Asia after falling for the first time in six days. Japanese yen and Korean won have also experienced significant declines against the dollar this year.

  6. Outlook: UBS Global Wealth Management expects the yield on the 10-year US Treasury to end the year around 3.85%. The Fed’s rate cuts, though delayed, are still anticipated, leading to further bond market adjustments.

In summary, the bond market remains sensitive to Fed communications, economic data, and global events. Investors should closely monitor developments as interest rates continue to be a focal point.


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