This year has opened with unfolding drama in the Middle East. With an increasing desire to topple decade’s old dictatorships in countries like Tunisia and Egypt, it appears that much of this region is developing an appetite for change, and perhaps even democracy. This kind of change is revolutionary, and rarely peaceful.
Investors are now facing two global risk challenges: the recent upset in the Middle East, and the need for the developed countries to reduce both deficit spending and cumulative debt levels. Both of these global risks serve to highlight the fortunate position that we find ourselves in in North America, and particularly in Canada. To date this year, North American equity markets have continued to deliver the positive performance that was achieved in the fourth quarter of 2010.
With the prevailing global uncertainties, Canada’s position as a world leader in the efficient extraction and export of resource commodities has put it in good stead. As a leader in both crude oil and natural gas production, Canada is the largest supplier of foreign energy to the United States, the world’s single largest market. It is one of the most important exporters of metallurgical coal to the Asian steel industry, and is a world leader in the production of copper, zinc and lead, the world’s most important base metals. Not only does Canada excel at extracting these commodities domestically, but its innovative companies utilize their technological expertise around the world. We have ensured that your portfolios have exposure to these resource commodities, allowing you to participate in this evolving economic opportunity.
February 2011
This year has opened with unfolding drama in the Middle East. With an increasing desire to topple decade’s old dictatorships in countries like Tunisia and Egypt, it appears that much of this region is developing an appetite for change, and perhaps even democracy. This kind of change is revolutionary, and rarely peaceful.
Investors are now facing two global risk challenges: the recent upset in the Middle East, and the need for the developed countries to reduce both deficit spending and cumulative debt levels. Both of these global risks serve to highlight the fortunate position that we find ourselves in in North America, and particularly in Canada. To date this year, North American equity markets have continued to deliver the positive performance that was achieved in the fourth quarter of 2010.
With the prevailing global uncertainties, Canada’s position as a world leader in the efficient extraction and export of resource commodities has put it in good stead. As a leader in both crude oil and natural gas production, Canada is the largest supplier of foreign energy to the United States, the world’s single largest market. It is one of the most important exporters of metallurgical coal to the Asian steel industry, and is a world leader in the production of copper, zinc and lead, the world’s most important base metals. Not only does Canada excel at extracting these commodities domestically, but its innovative companies utilize their technological expertise around the world. We have ensured that your portfolios have exposure to these resource commodities, allowing you to participate in this evolving economic opportunity.