December 15, 2011

Summary – Economic Update Event – Jan 17, 2012

Thank you to all of the clients and guests who attended a valuable and informative evening at our recent Economic Update Event.

We were so pleased to be able to have Norman Raschkowan, Executive Vice-President, Investments, Chief North American Investment Strategist and team lead of the Maxxum Funds, join us and give his expert perspective and outlook.

Here is a summary of Norman’s views for global markets for 2012, and the macro factors that will remain in the
spotlight:

• Europe: The debt crisis is being addressed slowly, but they will not be able to avoid recession
• North America: extended period of subdued (1%-2%) growth
• China: Does a housing “bust” trigger a hard-landing? He believes that China will be able to continue steady growth.
• Interest Rates: Central Banks will continue to keep them low
• Oil Prices: Middle East instability will keep prices elevated

Lastly, Norman felt that the United States will be able to avoid a recession in 2012, and that stock market valuations are attractive at current levels. He was also bullish on corporate high yield bonds, as they currently offer a good risk/reward trade-off.

*Click here to view Norman Raschkowan’s Slide Presentation from the Event