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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.*
Now, Masterworks lets you invest in shares of artworks featuring legends like Banksy, Basquiat, and Picasso.
$1.3 billion invested across over 500 artworks.
28 sales to date.
Net annualized returns on sold works held 12 months+ like 14.6%, 17.6%, and 17.8%.
Shares can sell quickly, but my subscribers can skip the waitlist:
*Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.
Good morning Edmonton, Happy Wednesday!
Good morning, Edmonton. It is a soggy one out there today, but the stories are anything but quiet. The separation debate took a sharp turn overnight, the city is quietly rethinking how much your parking actually costs, and there is a real chance money is landing in your account Thursday. Pour a coffee and let us get into it.💛
Free Parking in Edmonton May Not Be Free Much Longer
City administration is recommending Edmonton end the 15-minute free parking period and start charging at Fort Edmonton Park, the Muttart Conservatory and the Edmonton Valley Zoo for the first time, with the proposals heading to council committee on June 9.
The first hour at city attractions would still be free, with each additional half hour costing $1 and a $5 daily maximum.
All in all, the changes could double the city's annual parking revenue to $10.4 million by 2028.
If you park downtown or near Whyte Avenue, this one is worth paying attention to before June 9.
Edmonton Just Put $2 Million Toward Turning Church Land Into Housing
The City of Edmonton and the Edmonton Community Foundation launched a $2 million program on June 2 to help faith-based charities turn their own land into affordable housing, with grants of up to $135,000 covering feasibility studies and pre-construction planning.
The program is backed in part by $1 million from the federal Housing Accelerator Fund.
With around 9,000 faith buildings projected to close this decade, the city is hoping to unlock properties before they disappear.
Edmonton will need nearly 39,700 affordable rental units by 2031. This is one piece of how the city plans to get there.
The Separation Movement Just Called Danielle Smith's Cost Numbers a Lie
The Alberta Prosperity Project came out swinging on June 2, saying Premier Danielle Smith is inflating the cost of Alberta independence by hundreds of billions of dollars, calling her figures completely false.
General counsel Jeffrey Rath said the independence movement has its own economic analysis showing a transition at far lower cost than Smith has claimed.
With five months to go before the October 19 referendum, the battle over what separation would actually cost Alberta is now fully in the open.
This one matters whether you are a yes or a no.
Canada Just Confirmed a Recession and Trump Pounced on It Immediately
After Canada's two consecutive quarters of negative GDP growth were confirmed last week, President Trump revived his 51st state rhetoric on social media Monday, calling Canada's economic situation a sign that the country would be better off joining the United States.
Canada's Trade Minister pushed back directly, calling the Canada-US-Mexico Agreement highly beneficial and saying Canada is actively working to wrap up three new trade deals this year.
With the CUSMA review deadline set for July 1, Canada's recession timing could not have come at a worse moment for the negotiating table.
Worth knowing where Ottawa stands as that July deadline closes in.
A CRA Payment of Up to $533 Is Landing in Bank Accounts This Thursday
More than 12 million eligible Canadians will receive a one-time grocery top-up from the CRA on June 5 as part of the new Canada Groceries and Essentials Benefit, which replaces the GST/HST credit starting in July.
Families with two children earning around $40,000 net income get $533. Single people with $25,000 net income get $267.
If you received the GST credit in January 2026, the deposit is automatic through the same payment method.
Check your account Thursday morning. If you filed your 2024 taxes, there is a good chance something is coming.
The Last Time Stocks Were This Expensive Was December 1999.
"Right now, it's good. But it was in '72, '86, 2000, and 2007." - Jamie Dimon, May 2026.
The Shiller CAPE ratio just hit 42.3. The only time in 140 years it's been higher? December 1999.
Stocks can stay expensive for a long time...
It’s one metric to consider, but when your portfolio is built around the most expensive equities in modern history, what else you diversify with could really matter.
Blue-chip contemporary and post war art has shown near-zero correlation with the S&P since 1995.* Prices are largely driven by private collectors competing for a fixed supply of artwork by artists like Banksy, Basquiat, and Picasso.
Masterworks lets you invest in shares of that market.
$1.3B deployed across 500+ artworks
29 exits to date
Net annualized returns like 16.5%, 17.6%, and 17.8%, not including those unsold
*According to Masterworks data. Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.
Iran Just Opened a Second Front and Oil Jumped Overnight
Iran suspended indirect peace talks with the United States on June 1 and authorized its Houthi allies in Yemen to begin targeting the Bab el-Mandeb strait, a second critical waterway carrying roughly 14 percent of global maritime trade, after accusing the US of continuing to violate the ceasefire.
Brent crude climbed 4.2 percent to settle at $94.98 on the news, erasing weeks of cautious optimism that a 60-day ceasefire extension was close to being signed.
The Strait of Hormuz and Bab el-Mandeb together connect the Persian Gulf to the rest of the world's oceans. If both come under sustained attack, the supply squeeze tightens considerably.
Alberta royalty revenues track with Brent prices. This one has a direct line to your energy bill.
YOUR TURN 💌
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Edmonton local Weather
Day ⬇1° lower than historical avg, Night ⬆4° higher than historical avg.
🌤️ Edmonton Weather - Wednesday June 3rd
Wednesday in Edmonton is another wet one. Expect cloudy skies with showers in the afternoon, a high of 23°C, and a real risk of thunderstorms rolling through in the evening. It clears a bit overnight but the rain comes back, with an overnight low of 11°C. Keep the umbrella close and maybe hold off on the patio plans until the weekend.
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📅 Events Happening This Week in 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.
HIT OR MISS 🎯
Edmonton's Best Sports Bar or Pub to Watch the Stanley Cup Final 🎯
Game 1 is done and the series is officially on. Whether you are a diehard or just someone who likes the energy of a full room when the puck drops, there is nothing quite like watching the Cup on a big screen surrounded by people who care.
So Edmonton, where are you going for the games?
Hit or Miss: What is your go-to spot for big game nights in Edmonton or the surrounding area? Drop it in the comments below. Name the bar, the neighbourhood, why you love it. We want the full list.