🔴 Canadian Bank ETF (HCAL.TO) is trading 3% down as rising yields pressure Canadian financials

HCAL.TO is trading at CA$46.24, down 3.02%, as rising Treasury yields and oil weigh on risk appetite and rate-sensitive financials.

• Yields are above 5.3% and oil above $101; Canadian financials have softened amid the global bond selloff.
• Markets await the 2:00 p.m. FOMC minutes for rate-policy clues; the risk-off backdrop is consistent with pressure on Canadian bank shares. No specific HCAL holding news surfaced as the main catalyst, and macro conditions appear to explain the move.