Canada & ETF Comes Out Smiling After Happiness Study
July 3rd 2008 at 1:00am by Tom Lydon
A new study done by the University of Michigan found that Canada is the ninth happiest country on Earth, and they are getting happier – could it be because their exchange traded fund (ETFs) is one of the best single-country performers year-to-date?
Well…probably not, but it is interesting to note that Denmark came out in first as the happiest country, with the United States placing a grumpy 16th, and our Northern neighbors coming in at 9th, reports the CTV.ca staff.
The happier countries showed that happy societies are those that allow people the freedom to choose how to live their lives.
Likely adding to the happiness factor in Canada is that the Canadian dollar gained the most in six weeks, after a private U.S. report showed that the United States lost more jobs last month than anticipated.
Haris Anwar and Jamie McGee for Bloomberg reports that the Canadian dollar rose vs. 13 of the 16 most active currencies on speculation that the Federal Reserve may postpone raising interest rates later this year.
Will the good times continue? Watch these to find out:
- iShares MSCI Canada Index (EWC), up 1.2% year-to-date
- CurrencyShares Canadian Dollar Trust (FXC), down 1.8% year-to-date
Read the disclaimer, as Tom Lydon is a board member of Rydex Funds.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.