Monthly Market Overview December 2025
LAST MONTH’S ECONOMIC EVENTS
- U.S. Employment Data – Unavailable due to U.S. Government shutdown
- U.S. Unemployment Rate – Unavailable due to U.S. Government shutdown
- Canadian Employment Increased by 66,600 Jobs
- Canada’s Unemployment Rate Decreased to 6.9%
- U.S. Annual Inflation Rate Unavailable due to U.S. Government shutdown
- Canada’s Annual Inflation Rate Decreased to 2.2%
- U.S. Monthly Retail Sales Increased by 0.2%
- Canada’s Monthly Retail Sales Unchanged by 0%
- U.S. Third Quarter GDP Growth Rate (Second Estimate) – Unavailable due to U.S. Government shutdown
- Canada’s Third Quarter GDP Growth Rate Increased to 2.6%
THIS MONTH’S UPCOMING ECONOMIC EVENTS
- December 5: Statistics Canada Employment Change (8:30)
- December 5: Statistics Canada Unemployment Rate (8:30)
- December 10: U.S. Federal Reserve Interest Rate Decision (8:30)
- December 10: Bank of Canada Interest Rate Decision (9:45)
- December 15: Statistics Canada Inflation Rate (8:30)
- December 16: U.S. Bureau of Labour Statistics Non-Farm Payroll (8:30)
- December 16: U.S. Bureau of Labour Statistics Unemployment Rate (8:30)
- December 17: U.S. Bureau of Economic Analysis Retail Sales (8:30)
- December 18: U.S. Bureau of Economic Analysis Inflation Rate (8:30)
- December 19: Statistics Canada Retail Sales (8:30)
- December 23: U.S. Bureau of Economic Analysis GDP Growth Rate (8:30)
1 (Source: Bank of Canada)
2(Source: Statistics Canada)
3(Source: United States Bureau of Labour Statistics)
4(Source: United States Bureau of Economic Analysis)
5(Source: United States Federal Reserve)
6(Source: United Census Bureau)
| Last Month’s Market Activity (for November 2025) | ||||
| Monthly Change | 2025 Change | 12 Month Change | Ending Value | |
| GLOBAL STOCK MARKETS | ||||
| S&P/TSX Composite (Canada) | 3.17% | 26.91% | 23.13% | 31382.78 |
| Dow Jones Industrial Avg. (U.S) | 0.02% | 12.16% | 6.7% | 47716.42 |
| S&P 500 (U.S.) | -0.61% | 16.45% | 14.18% | 6849.09 |
| Nasdaq Composite (U.S.) | -1.94% | 21.0% | 22.59% | 23365.69 |
| FTSE 100 (U.K) | 0.25% | 18.93% | 17.38% | 9720.51 |
| Dax (Germany) | -1.82% | 19.73% | 22.71% | 23836.79 |
| CAC 40 (France) | -1.14% | 10.05% | 13.14% | 8122.71 |
| Nikkei 225 (Japan) | 0.07% | 25.97% | 31.04% | 50253.91 |
| Nifty 50 (India) | 1.03% | 10.82% | 9.57% | 26202.95 |
| Shanghai Composite (China) | -2.5% | 16.02% | 17.99% | 3888.60 |
| Hang Seng Index (Hong Kong) | -1.85% | 28.91% | 33.52% | 25858.89 |
| BOND YIELDS & MORTGAGE RATE (UNITED STATES) | ||||
| 1 Year Treasury Bill Yield – U.S. | -3.03% | -13.55% | -17.16% | 3.586% |
| 2 Year Treasury Bill Yield – U.S. | -2.89% | -17.66% | -17.26% | 3.493% |
| 5 Year Treasury Bill Yield – U.S. | -2.92% | -17.9% | -12.71% | 3.598% |
| 10 Year Treasury Bill Yield – U.S. | -1.89% | -12.2% | -5.51% | 4.014% |
| 30 Year Mortgage Rate (Average) – U.S. | 1.39% | -12.75% | -10.92% | 6.352% |
| BOND YIELDS & PRIME RATE (CANADA) | ||||
| 1 Year Bond Yield – Canada | -0.56% | -24.67% | -30.5% | 2.302% |
| 2 Year Bond Yield – Canada | 0.06% | -17.79% | -24.33% | 2.413% |
| 5 Year Bond Yield – Canada | 0.97% | -9.69% | -12.81% | 2.677% |
| 10 Year Bond Yield – Canada | 1.04% | -3.51% | -3.34% | 3.113% |
| Prime Rate – Canada | 0.0% | -18.35% | -25.21% | 4.45% |
| CURRENCY RATES | ||||
| Canada/US Dollar | 0.22% | 2.9% | 0.37% | $0.715 |
| Euro/US Dollar | 0.52% | 12.0% | 9.75% | $1.160 |
| US Dollar/Indian Rupee | 0.67% | 4.42% | 5.83% | ₹ 89.357 |
| US Dollar Japanese Yen | 1.41% | -0.65% | 3.36% | ¥156.185 |
| US Dollar/Chinese Yuan | -0.59% | -3.05% | -2.37% | ¥7.075 |
| Bitcoin/USD | -16.95% | -2.49% | -5.13% | $91,004.00 |
| FOODS/GRAINS | ||||
| Coffee ($USD/lbs.) | -3.34% | 18.51% | 17.3% | $3.790 |
| Cocoa ($USD/Metric Ton) | -9.77% | -52.46% | -38.8% | $5,550.000 |
| Orange Juice ($USD/lbs.) | -11.67% | -68.43% | -69.86% | $1.549 |
| Sugar ($USD/lbs.) | 5.41% | -21.03% | -29.88% | $0.152 |
| Wheat (USD/Bushel) | 0.84% | -2.36% | -1.82% | $5.385 |
| Corn ($USD/Bushel) | 3.77% | -2.34% | 4.61% | $4.478 |
| Oats ($USD/Bushel) | 9.32% | -4.16% | -11.52% | $3.168 |
| Milk ($USD/lbs.) | -7.84% | -21.86% | -14.31% | $0.159 |
| MATERIALS | ||||
| Lumber ($USD/1000 Board feet) | 0.93% | -1.18% | -7.56% | $544.000 |
| Cotton ($USD/lbs.) | -1.24% | -5.37% | -9.78% | $0.647 |
| ENERGY | ||||
| Crude Oil (WTI – $USD/Barrel) | -4.1% | -18.46% | -14.9% | $58.480 |
| Natural Gas ($USD/MM British Thermal Units) | 11.28% | 56.94% | 51.75% | $4.862 |
| METALS | ||||
| Gold ($USD/Troy Ounce) | 6.5% | 61.17% | 61.23% | $4,256.400 |
| Silver ($USD/Troy Ounce) | 18.53% | 95.22% | 89.58% | $57.085 |
| Copper ($USD/lbs.) | 3.71% | 31.08% | 27.52% | $5.278 |
| Aluminum ($USD/Metric Ton) | -1.26% | 10.27% | 9.84% | $2,808.000 |
| Steel ($USD/Metric Ton) | -0.39% | -6.09% | -6.21% | $3,097.000 |
| REAL ESTATE | ||||
| Greater Toronto – Real Estate (Composite)1 | -0.4% | -5.12% | -5.0% | $956,800.000 |
| Canada – Real Estate (Composite)1 | -0.4% | -2.71% | -3.0% | $679,600.000 |
1 Canadian Real Estate Association Composite Prices ending October 31 2025.
* Data provided by FactSet unless otherwise stated as of November 28, 2025, 4:30 PM EST.
* This information has been prepared by Desmond Rubie, BCom, FCSI®, CIM®, CFP®, who is a Wealth Advisor for Rubie Wealth Management Group at iA Private Wealth.
*Opinions expressed in this article are those of Desmond Rubie, BCom, FCSI®, CIM®, CFP® only and do not necessarily reflect those of iA Private Wealth Inc.
*IA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates.
Desmond Rubie, BCom, FCSI®, CIM®, CFP®
Wealth Advisor
Rubie Wealth Management Group | iA Private Wealth
Insurance Advisor | iA Private Wealth Insurance*
26 Wellington Street East, 2nd Floor, Toronto, ON M5E 1S2
T: 647-429-3281 ext. 240018
Desmond.Rubie@iaprivatewealth.ca
Fellow of CSI (FCSI®)
*iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates.
*Insurance products are provided through iA Private Wealth Insurance, which is a trade name of PPI Management Inc. Only products and services offered through iA Private Wealth Inc. are covered by the Canadian Investor Protection Fund.
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