June Rate Cut?

Author

Jay Lutz
July 08, 2024

Sponsored by Sterling Metals

June Rate Cut?

Recent data reveals that Canada has seen a staggering increase of 2.87 million people over the past three years. This influx, equivalent to the combined populations of Manitoba and Saskatchewan, has placed significant pressure on the housing market. So significant that even a long-awaited rate cut couldn’t cut it.

Statistics Canada reports that in the 12 months leading up to June 30, the country witnessed a record-breaking population growth of 1.27 million. This follows increases of 1.06 million and 0.54 million in the two preceding years, respectively. The rapid expansion is primarily attributed to immigration policies aimed at addressing labor shortages and bolstering economic growth.

You can read more on the matter here.

Sterling Metals (TSXV: SAG) is a mineral exploration company focused on Canadian exploration opportunities. The company is currently advancing its 100% owned Sail Pond Project located in the Great Northern Peninsula of Newfoundland, and recently came to terms to acquire the Copper Road project in Ontario. The 13,500 ha Sail Pond Project is a brand-new discovery, first discovered in 2016, while Copper Road consists of 24,000 ha of claims surrounded by robust infrastructure in a belt home to past producing deposits.

What’s going on?

  • Iran Reports Warship ‘Incident’: Sahand Frigate Capsizes, Crew Injured (theDeepDive)

  • Hurricane Beryl knocks out power as it churns across Texas (Reuters)

  • Rumors of a Home Equity Surtax Resurface Ahead of the Elections (theDeepDive)

  • IMF to Consider Options to Lower Penalties on Big Borrowers (Bloomberg)

  • Condo Sales Drop 28% as Toronto’s Housing Market Cools (theDeepDive)

  • Biden Tells Democrats He Is ‘Running This Race to the End’ (WSJ)

  • Canada Gets More Protective Over Mining Sector (theDeepDive)

  • Paramount agrees to merge with Skydance, ending monthslong negotiations and Redstone era (CNBC)

  • Reddit Confession Leads to Unraveling of International Student’s Academic Fraud (theDeepDive)

  • Insurers Pocketed $50 Billion From Medicare for Diseases No Doctor Treated (WSJ)

  • Federal Government Invests $11 Million in Clean Energy Projects (theDeepDive)

A Deep Value Cybersecurity Play

The stock market and stuff

  • Boeing Pleads Guilty to Criminal Fraud Charge Over Fatal 737 Max Crashes (theDeepDive)

  • Morgan Stanley’s Wilson Says a 10% Stock Market Correction Is ‘Highly Likely’ (Bloomberg)

  • The German government owns around $2 billion in bitcoin — and it’s freaking out crypto investors (CNBC)

In the juniors

  • Soma Gold Halts Operations at El Bagre Mine Due to Community Blockade (theDeepDive)

  • Emerita Resources Intersects 11.4m of Massive Sulfide at El Cura, Extending the Mineral Deposit 60m Down Dip (JMN)

  • Plurilock: A Deep Value Cybersecurity Play (theDeepDive)

FULL DISCLOSURE: Sterling Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Sterling Metals. The author has been compensated to cover Sterling Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.