Port Expansion Proceeds

According to Mexico's local press, drug-related killings for 2009 exceeded record levels hit in 2008, and we see little sign that the level of violence will subside in 2010. On New Year's Eve, six people including a US citizen were kidnapped from a bar in Monterrey before being executed, and in the northern border city of Cuidad Juarez, the annual death toll was 29 just four days into the New Year. In short, we believe the battle between the government and the drug cartels will continue taking near-record levels of casualties over the next 12 months.

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