TSX Edges Lower on Friday as Bond Yields Rise

The Toronto Stock Exchange's S&P/TSX Composite Index ended lower on Friday, weighed down by declines in energy and industrial shares. The index dropped 69.58 points or 0.2 percent to close at 35,804.86.

This marks the fourth straight weekly decline for the TSX, but it still managed a gain of 0.3 percent for the week. Market analysts attribute the pullback to rising long-term borrowing costs and bond yields.

US Treasury yields rose after investors assessed the outlook for interest rates following the Federal Reserve's first rate hike in three years on Wednesday. Oil prices also gave back some recent gains, settling 1.6 percent lower at $100.30 a barrel.

Rick Gardner, chief investment officer at RGA Investments, warned that markets are 'on eggshells' due to rising oil prices and bond yields, and that volatility is likely to persist in September and October.