Business

Since 2009, royalty and streaming companies have gained 230% while gold and the TSX Venture have returned 50% and 1%, respectively.

Royalty and streaming companies are able to sign advantageous deals during poor market conditions, at times when equity investments become less accessible. Desperate times call for desperate measures. In the troughs of a bear market, issuers seeking development and production capital often times must sell away future production at a discount.

Having reached 17 year highs in March following the Trump Bump, The Conference Board's consumer confidence has slipped to its weakest since Feb as 'hope' fades...

Plans to buy homes, cars, and major appliances all fell in May to the lowest levels of the year.

As The Conference Board details...

Corporate profits are rolling over again.

Two years ago, corporations posted their first year negative profit growth since the Great Crisis. We had a bounce from those depressed levels, which suckered a lot of investors into believing that fundamentals were improving.

That period is now ended. Year over year profits are rolling over HARD.

Why does this matter? After all, corporate profits have rolled over several times in the last few years… and the markets kept blasting off to new highs.

With first the Fed, and then the ECB and BOJ, all expected to start reducing their balance sheets over the next two years, a bevy of central bankers has been busy on the jawboning circuit, explaining why this would not have a major impact on either bond yields or stocks.

US home prices (in the 20-city Case-Shiller universe) rose at 5.89% YoY - the strongest growth since July 2014.

This has pushed the national home price index to new record highs...

Perfect time to hike rates and deflate yet another bubble?

The 3-6 month lag effect of rate moves on home prices is looming.