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Someone just spent $236,000,000 on a painting. Here’s why it matters for your wallet.
Late last year, a Klimt sold for the highest price ever paid for modern art at auction.
An outlier sure, but it wasn't a fluke. U.S. auction sales grew 23.1% in 2025. The $1-5mm segment even grew 40.8% YoY.
Meanwhile, Apollo’s chief economist Torsten Slok said to expect ‘zero in return in the S&P 500 over the coming decade.’
Each environment is unique, but after dot-com, post war and contemporary art grew about 24% annually for a decade. After 2008, about 11% for 12 years.
It’s also had near-zero correlation with the S&P 500 since ‘95.*
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*Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.
Happy Wednesday Edmonton and sister towns!
Ninety days ago we hit publish for the first time and honestly had no idea what we were doing. Today marks 90 issues of The Urban Brief Edmonton and Surrounding Areas delivered over 8,000 times into inboxes across this city and the communities around it. That is all you. Thank you for opening, reading and showing up every single day right alongside me. There is so much more coming and we could not be more excited to keep building this with you💛
Fifty Thousand Fans, Two Goals and One Very Rainy Night at Commonwealth
Nobody stayed home. Over 50,000 Edmonton fans packed Commonwealth Stadium in the pouring rain Monday night to watch Canada beat Uzbekistan 2-0 in their second last warmup before the FIFA World Cup.
Jonathan Osorio scored in the 58th minute and Jayden Nelson added insurance in stoppage time as Canada stayed sharp and confident heading into tournament play.
Explore Edmonton estimated the match drove upward of $20 million into the local economy, one of the most attended soccer matches in Commonwealth Stadium history.
Where were you last night? Drop it in the comments.
Alberta Is Flooding and the Province Says It Is Ready to Help
The rain that has been soaking Alberta all week has started doing real damage, with streets flooding in Canmore, pathways closed in Banff and the Bow River running at nearly three times its normal flow rate.
Environment Canada says storm totals could hit up to 150mm in some areas east of Edmonton, with more rain expected through Tuesday evening.
The province confirmed Monday it is ready to deploy support if communities need it.
If you are near a river or low lying area, keep checking local alerts today.
Alberta Has Three Pipeline Routes in Mind and They Are All Blocked by the Same Federal Law
Internal government documents show Alberta quietly mapped three different pipeline routes through northern BC to reach Asian markets, and every single one of them ends in an area where Ottawa's oil tanker moratorium currently bans tanker loading.
The routes were shown to local community leaders in private consultations this spring, but have not been publicly discussed by the province.
The province is targeting a project proposal by July 1 and a national interest designation by October 1, but BC Premier David Eby has already made his opposition clear.
This one is going to be a long conversation. Worth watching closely.
One in Five Food Bank Clients in Canada Has a Job. The EI System Is Why.
Food Banks Canada dropped its 2026 Poverty Report Cards on Monday and the numbers are hard to look away from. One in five people walking through a food bank door right now is working, many of them full time.
The group says Canada's Employment Insurance system was built for a workforce that no longer exists and excludes gig workers, part-timers and anyone juggling contract jobs.
Food Banks Canada is calling for a minimum benefit floor of $450 per week and extended support for people who cannot find work before their EI runs out.
This affects Edmonton families too. Worth knowing where the federal parties stand.
Carney Says Canada Is Failing Its Jewish Community and Announces New Plan to Fight Back
Prime Minister Carney stood in a Toronto synagogue Monday evening and was direct: Canada's civic compact is failing Jewish Canadians and it needs to change. B'nai Brith recorded over 6,800 antisemitic incidents in 2025, the highest number since 1982.
Carney launched a new Ministerial Advisory Council on Rights, Equality and Inclusion, headed by former Senator Marc Gold, to lead the federal response.
The government is adding $75 million to the Canada Community Security Program to help places of worship, schools and community centres protect themselves.
Two thirds of all religion-motivated hate crimes in Canada are directed at Jewish Canadians, who make up one percent of the population. That number should sit uncomfortably with all of us.
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Iran Just Walked Out of Peace Talks and Oil Jumped Eight Percent Overnight
Iran announced Monday it is halting all communications with the United States, saying it will not return to the table unless Israel stops expanding its military offensive in southern Lebanon. Oil markets reacted immediately.
WTI crude jumped 7.8 percent to $94 a barrel and Brent climbed to nearly $97, erasing weeks of cautious optimism that a 60-day ceasefire extension was close to being signed.
The two sides had reportedly been within reach of a tentative agreement just days before Iran made the announcement.
Alberta's royalty revenues track directly with Brent prices. This one matters closer to home than it might seem.
YOUR TURN 💌
Which story from today's issue are you still thinking about? The pipeline maps Alberta did not want us to see, the food bank report that said working people are going hungry, or the peace talks that just fell apart overnight?
Did you know that engaging with our sponsors content, clicking and checking out what they’re about helps us greatly. So, kindly consider checking out all three sponsors in this issue, they are easy to identify as they are not within a purple frame. Can you spot them?
We love to hear from you, tell us which story hit you hardest today. We read every one.
Edmonton local Weather
Day ⬇8° lower than historical avg, Night ⬆2° higher than historical avg.
🌤️ Edmonton Weather - Tuesday June 2nd
Tuesday in Edmonton is a keep-the-umbrella-close kind of day. Expect rain showers throughout with a high near 12°C, wind gusts up to 38 km/h and an overnight low around 9°C. The rain is expected to ease by evening, but it is a cool and wet one across the whole province today..
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📅 Events Happening This Week in Edmonton
Tuesday June 2nd
🌸 Beverly Towne Farmers’ Market 🎟️ Details
🗓 June 2 · ⏰ 3:00 PM–7:00 PM · 📍 Riverview Crossing Shopping Centre, Edmonton
A Tuesday evening east Edmonton farmers’ market.
🌸 Bountiful Farmers’ Market 🎟️ Details
🗓 June 2 · ⏰ 10:00 AM–4:00 PM · 📍 3696 97 Street NW, Edmonton
A year-round market open Tuesday.
🌸 Edmonton Events Calendar listings 🎟️ Details
🗓 June 2 · ⏰ Varies · 📍 Edmonton
The calendar shows workshops, live music, and community events on this date.
🌸 West Edmonton Mall events 🎟️ Details
🗓 June 2 · ⏰ Varies · 📍 West Edmonton Mall
Ongoing venue programming and entertainment.
🌸 Lamont Farmers Market 🎟️ Details
🗓 June 2 · ⏰ 4:00 PM–7:00 PM · 📍 Lamont Recreation Centre, Lamont
A Wednesday regional market east of Edmonton
Wednesday June 3rd
🌸 The Real Group: Live in Edmonton 🎟️ Details
🗓 June 3 · ⏰ 7:30 PM · 📍 Triffo Theatre, Edmonton
A Swedish vocal ensemble concert in Edmonton.
🌸 Flamenco at the Yardbird 🎟️ Details
🗓 June 3–4 · ⏰ Evening · 📍 Yardbird Suite, Edmonton
A two-night flamenco performance series.
🌸 Marwayne Rodeo Street Dance 🎟️ Details
🗓 June 3 · ⏰ Night · 📍 Marwayne
A rodeo kickoff street dance in the Marwayne area.
🌸 Lamont Farmer’s Market 🎟️ Details
🗓 June 3 · ⏰ 4:00 PM–7:00 PM · 📍 Lamont Rec Centre, Lamont
A Wednesday evening farmers’ market east of Edmonton.
Thursday June 4th
🌸 Nextfest 2026 🎟️ Details
🗓 June 4–9 · ⏰ All day · 📍 Sir Winston Churchill Square, Edmonton
A free multi-day festival of new music, theatre, and art.
🌸 BeerFest Days 🎟️ Details
🗓 June 4–9 · ⏰ 11:00 AM–11:00 PM · 📍 Churchill Square, Edmonton
A summer festival with breweries, food vendors, and entertainment.
🌸 John Vaillant on Fire Weather 🎟️ Details
🗓 June 4 · ⏰ 1:30 PM · 📍 Art Gallery of Alberta, Edmonton
An author talk at the Art Gallery of Alberta.
🌸 Lloydminster Border City Farmers Market 🎟️ Details
🗓 June 4 · ⏰ 12:00 PM–5:00 PM · 📍 Servus Sports Centre, Lloydminster
A Thursday farmers’ market east of Edmonton.
🌸 Flamenco at the Yardbird 🎟️ Details
🗓 June 4 · ⏰ Evening · 📍 Yardbird Suite, Edmonton
The second night of the flamenco series.
🌸 Lamont Farmer’s Market 🎟️ Details
🗓 June 4 · ⏰ 4:00 PM–7:00 PM · 📍 Lamont Rec Centre, Lamont
A weekly east-of-Edmonton market.
Farmers’ markets
🌸 Lamont Farmer’s Market 🎟️ Details
🗓 June 3–4 · ⏰ Wednesdays 4:00 PM–7:00 PM · 📍 Lamont Rec Centre, Lamont
The main recurring farmers’ market I found in the immediate region for this midweek window.
🌸 Bountiful Farmers’ Market 🎟️ Details
🗓 June 3–4 · ⏰ Not open on these weekdays · 📍 Edmonton
This one is not part of the live June 3–4 market list.
TRIVIA TUESDAY 🧠
Before we get to today's question, can you answer this one?
Over 50,000 fans packed Commonwealth Stadium last night in the rain to cheer on Team Canada. But here is the question: what was Commonwealth Stadium originally built for?
Scroll down for the answer.
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Answer
Commonwealth Stadium was built for the 1978 Commonwealth Games right here in Edmonton. It opened in August 1978 specifically to host the Games and has been home to the Edmonton Elks ever since. At the time, it was one of the largest stadiums in Canada. Last night, 48 years later, it was shaking with World Cup energy. Pretty good for a building that has seen everything this city has thrown at it.
What's your favourite Commonwealth Stadium memory? Drop it in the comments below.