Sept 24 - Futures tracking Canada's blue-chip stocks retreated on Thursday as a sharp rise in global government bond yields weighed on sentiment, while investors awaited retail sales data for clues on the health of Canadian consumers.
December futures on the S&P/TSX index were down 0.48% at 5.49 a.m. ET (9.49 a.m. GMT).
The benchmark US 10-year Treasury yield climbed to 5.139%, its highest level since 2007, as higher crude prices aggravated inflation pressures, prompting traders to increase bets on Federal Reserve rate hikes.
Its Canadian equivalent climbed to 3.953%.
Retail sales data due later in the day will be closely watched for insights for signals on the health of Canadian consumers.
Canada's mining-heavy bourse could come under pressure as gold prices fell 0.5% to $4,265.89 per ounce, pressured by rising Treasury yields and higher oil prices.
Spot silver fell 1.2% to $63.72 per ounce.
Oil prices rose more than 2% on Thursday as little progress was made in diplomatic talks between the US and Iran, while uncertainty over a potential US ban on diesel exports added to supply concerns.
The benchmark TSX (.GSPTSE), posted its biggest one-day decline since June 5 on Wednesday, with financial (.SPTTFS), and materials (.GSPTTMT), stocks among the biggest drags.
In company news, communications and software firm BlackBerry (BB.TO), is scheduled to report quarterly results on Thursday.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report CA/
Reuters global stocks poll for Canada
Canadian markets directory
Reporting by Darshan Kumar in Bengaluru; Editing by Sahal Muhammed
