13.07.202612:53:55UTC+00TSX Futures Muted Amid Middle East Tensions

Futures tied to the S&P/TSX Composite Index were little changed on Monday, as escalating military tensions between the United States and Iran weighed on investor sentiment. US and Iranian forces exchanged heavy missile and drone strikes over the weekend and into Monday, driving oil prices higher on renewed concerns about crude shipments through the Strait of Hormuz. Rising bond yields, fueled by persistent inflation worries, reinforced expectations that interest rates in North America will stay elevated for longer, pressuring financial shares and the broader index. At the same time, gold prices retreated amid expectations of a hawkish Federal Reserve stance, weighing on mining stocks. Investors are also looking ahead to the Bank of Canada’s policy decision on Wednesday, with the central bank widely expected to leave its key interest rate unchanged at 2.25%.