Copyright ©2015 Financial Planner & Senior Financial Advisor – The Birbari Wealth Management Group - HollisWealth, Burlington Branch. All Rights Reserved.
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Michael Birbari

Director, Private Client Group
Senior Investment Advisor

A division of Scotia Capital Inc
Office: (905) 336-8600
Toll Free: 1 (800) 336-8606

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Economic Monthly Reports

2015 Economic and Market Outlook Series

Global Economic Update -Aron Gampel, Vice President & Deputy Chief Economist, Scotiabank


Outlook for CAD and USD -Camilla Sutton, Global Head of Foreign Exchange, Scotiabank




We are pleased to present the latest editions of the Economic Monitor and the Market Monitor from Dynamic Funds Economics, prepared by Chief Economist Dr. Martin Murenbeeld and Senior Economist William Tharp; a division which provides independent analysis and research to retail and institutional interests from across the globe.  

Dynamic Funds Economic Monitor

Financial Markets Overview

There are three significant uncertainties for markets to contend with presently – Greece, the Fed and the oil price.

Greece: We expect that Greece will stay in the Eurozone for the time being, and continue to service its debt with new loans under the guise of “pretend and extend”. Inevitably Greece will default however; Greece will need financial aid for a long time to come, and somewhere along the way creditors will stop lending. A future “Grexit” seems inevitable!

Dynamic Funds Economic Monitor - May 2015


Monthly Market Snapshot

Looking Back To The Year Ahead

We are almost half way through 2015, and for June’s Monthly, we thought it would be worthwhile to revisit some of the key themes brought up by the presenters at our annual Year Ahead Conference to see how things are progressing.

The Year Ahead Conference, which takes place each January in Toronto, is the Private Client Research group’s showcase conference. At this event, investment experts from within and external to Scotiabank discuss themes, ideas and trends in front of nearly 250 HollisWealth advisors. What’s the purpose of the event from the perspective of the attendees? To give them the investment tools and information required to help them build better client portfolios.

The conference’s investment experts are not charged with providing their best guess as to what their area of expertise may look like six months out. Our view is that making such short term forecasts is a mug’s game. The real purpose of their calls is to give advisors a longer term sense of how client portfolios should be positioned. But it wouldn’t be much fun if we didn’t have the opportunity to put together a short term review of how some of the key calls and comments brought up by the presenters have fared since the event.

With that in mind, we’ve put together a summary of some of the key comments from some of the investment experts during the January 19th event, along with details on what’s happened since. (All data sourced from Bloomberg).

Monthly Market Snapshot - June 2015


The particulars contained herein were obtained from sources which we believe are reliable, but are not guaranteed by us and may be incomplete. The opinions expressed have not been approved by and are not those of HollisWealth. This website is not deemed to be used as a solicitation in a jurisdiction where this HollisWealth representative is not registered.

Scotiabank's Global Forecast Update

 Scotia Economics provides clients with in-depth commentary regarding the factors shaping the outlook for Canada and the global economy, including macroeconomic developments, currency and capital market trends, commodity and industry performance, as well as monetary and public policy issues.

Here We Go Again...

The early-year weakness in some of the advanced economies is giving way to improving performances. Expectations are again building that global activity may finally achieve a higher growth trajectory. Nonetheless, the myriad of challenges that have confronted much of the world in recent years — uneven global activity triggered by one-off events, the austerity and structural forces restraining many economies, the recurring and growth-dampening geopolitical events, and the heightened volatility in financial and currency markets — continue to reinforce the lingering uncertainty surrounding the outlook.

Scotiabank Global Forecast - June 26, 2015