Market News: Week Ending October 16, 2026

Market News: Week Ending October 16, 2026

According to the U.S. National Association of Realtors, existing-home sales climbed 1.5% to a seasonally adjusted annual rate of 3.99 million units in September, up from August’s downwardly revised 3.93 million unit pace (originally reported as 3.98 million). Despite the advance, overall sales were down 2.2% on a year over year basis. The association attributed the September sales results to “further increases in mortgage rates in recent weeks mean fewer buyers can qualify to purchase a home.” With the market looking for a small decline, these results including the revisions are broadly in line with expectations. Activity in the housing market has a significant "ripple" effect on the broader economy.

The U.S. Bureau of Labor Statistics reported that the consumer price index moved 0.6% higher (seasonally adjusted basis) in September after rising 0.4% in August. Over the last 12 months, the overall index has increased 3.7%, up from the 3.4% figure posted for August. The current data revealed that the energy sub-index was the primary driver once again, rising 5.2% on the month and standing with a 20.4% advance on a 12-month basis. Further, core inflation (CPI ex food and energy) moved higher to 2.6% (y/y) for September, from 2.4% in the prior report. These figures match market expectations as the energy price moves have been well anticipated. Market participants will remain focused on any developments in energy pricing and their broader inflation implications, heading into the Fed’s next two-day policy meeting, scheduled for October 27 and 28.

NOTE:
All index performance is in Canadian dollars.
IMPORTANT DISCLAIMERS:
The information in this letter is derived from various sources, including CI Global Asset Management, CRA, Bloomberg, National Post, Globe and Mail, Wall Street Journal, Bloomberg, Reuters, Investment Executive, Advisor.ca, MarketWatch, Toronto Sun, The Guardian, MSN.ca and Statistics Canada at various dates. This material is provided for general information and is subject to change without notice. Before acting on any of the above, please contact me for individual financial advice based on your personal circumstances. Certain statements contained in this communication are based in whole or in part on information provided by third parties and CI Global Asset Management has taken reasonable steps to ensure their accuracy. Market conditions may change which may impact the information contained in this document.