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Andrew Pyle

Wealth Advisor, Associate Portfolio Manager,ScotiaMcLeod

For over two decades, Andrew has held several senior market analyst positions in Canada’s financial industry, advising individual clients and small businesses on financial issues.

Before joining ScotiaMcLeod as a Wealth Advisor and Associate Portfolio Manager, he was the Vice-President and Head of Capital Market Research for Scotiabank Economics. Prior to that he was the Chief Canadian Strategist for the Dutch bank, ABN AMRO.

During his career, he has provided economic and market strategy advice to corporations, central banks and some of the largest investment funds in the world. He is widely quoted in the media, appearing regularly on radio and television, and is often asked to speak and present to industry groups, chambers of commerce and community associations.

Andrew works with clients across Canada, and lives with his wife and three children in Peterborough, Ontario. An active contributor to the local community, Andrew sits on the Foundation Board of the Peterborough Regional Health Centre.
Why Fiscal Cliff Panic Is

Why Fiscal Cliff Panic Is Overblown

Parkinson's Law, in its original form, states that "work expands so as to fill the time available for its completion." This was a humorous attempt at mathematically describing the rate at which bureaucracies expand over time -- the consequence of which is something that Washington is now dealing with. Hence the mania over the so-called "fiscal cliff" as the clock is ticking towards the January 1st and 2nd deadlines.
12/06/2012 05:20 EST
Good Luck Mark Carney, You'll Need

Good Luck Mark Carney, You'll Need It

Today the UK chancellor announced that the head role at the Bank of England would go to none other than the current Bank of Canada Governor, Mark Carney. The bet is that Carney can wave the same magic wand for the UK, though it's going to take more than a doctorate from Oxford to overcome the relatively larger challenges facing that country versus Canada, with its proximity to a troubled Eurozone.
11/26/2012 05:44 EST
Democrats End Up With the Real

Democrats End Up With the Real "Trump" Card

: For all the negative campaigning, aimed at shifting an ever-shrinking undecided voter contingent, including Donald Trump's last minute media grab on his $5 million offering for Obama disclosure documents (now there's a man with a real journey into insignificance); America's philosophical divide became even more apparent. Republicans turned out the angry white gentlemen and rural vote, while Democrats solidified their captive hold over urban, Black, Hispanic and female voters.
11/08/2012 09:34 EST
The U.S. Election is Just Something to Watch When Hockey's Not

The U.S. Election is Just Something to Watch When Hockey's Not On

The upcoming U.S. Presidential election in November is already becoming regular water cooler content for Canadians starved for the return of hockey season, even though the outcome may not necessarily change the direction for Canada's economy. The similarities of both parties for Canada suggest that the attention to the election will be more for entertainment reasons on a night we don't want to watch hockey.
09/11/2012 07:44 EDT
China Sits Comfortably Behind the Steering

China Sits Comfortably Behind the Steering Wheel

We had some not so friendly news hit the wires this week regarding China. The world's largest consumer of things from the ground and largest sibling in the Asian region recorded slower-than-expected GDP growth for the second quarter: 7.6 per cent. This is the sixth straight quarter in which growth has decelerated and represents a half a per cent decline from the growth seen in Q1.
07/13/2012 05:19 EDT
What Italy's Victory Over Germany Really

What Italy's Victory Over Germany Really Means

The irony of Germany's loss to Italy in the Euro 2012 cup will not be lost on those who have been watching the Eurozone financial crisis play out in recent weeks. Germany's Chancellor Angela Merkel has been steadfast in her opposition to a plan for a common debt issuance program (so-called "euro bonds"), while her electorate have turned up their collective noses to calls for additional handouts to the problem centres like Greece.
06/29/2012 05:44 EDT
Should You Repay Your Past? Or Save for Your

Should You Repay Your Past? Or Save for Your Future?

In the wake of May's bond market rally from heaven, administered rates have seen additional downward pressure into June. GIC rates have extended their decline, while Canadian mortgage rates are downright juicy. Given this environment, it's no surprise that Canadians are uncertain as to whether they should be paying down debt instead of building investment nest eggs.
06/08/2012 11:29 EDT
It's Time to Revisit (and Replace) Some of Those Insurance

It's Time to Revisit (and Replace) Some of Those Insurance Policies

A lot of Canadians have no life insurance. Those who do often have excessive or expensive policies that they just don't need. In this economy, it's time Canadians go through their desk drawers and purge some of those useless, costly policies, and replace them with new ones.
05/30/2012 05:15 EDT
Why the Facebook

Why the Facebook Faceplant?

Unfortunately, the Facebook's IPO was not without its critics and the split opinion was evident in the initial trading volatility. Analysts estimate that for Facebook to mirror Google's performance, its market cap would have to rise to close to $1 trillion in the same eight year time period.
05/21/2012 04:02 EDT
Economy Being Squeezed Between Greece and

Economy Being Squeezed Between Greece and China

From last weekend's elections in France and Germany, highlighting a shift in the populace away from fiscal austerity, to the gridlock in Greece's parliament (and more probable threat that the country will leave the euro), the region has created a conundrum for investors.
05/14/2012 05:01 EDT

Saving Bonds

The seeds are already planted for bond yields to climb over the long-term as we lose the traditional investors in the U.S. debt market. One way out of this dilemma is to get deficits under control and put debt (and debt/GDP ratios) on a more sustainable trajectory. If preventing a return to double-digit bond yields (and mortgage rates) in North America isn't a big enough motivation to do this, I don't know what is.
05/06/2012 06:14 EDT
Don't Get Too Comfortable -- Higher Rates Are on the

Don't Get Too Comfortable -- Higher Rates Are on the Way

While this week's Bank of Canada policy meeting may not have reinforced the "put down the credit card!" message, it did reinforce the guidance that interest rates are going to start heading higher regardless. There are two main caveats to the Bank's revised outlook.
04/21/2012 08:35 EDT
Buckle Your Seatbelts, It's Going to a Volatile

Buckle Your Seatbelts, It's Going to a Volatile Market

While we debate economic momentum in the U.S., how much slower the Chinese economy will become and whether the downtrend in multiples has more to go, expect to see the stock market a little more shaky in the coming weeks and months. Yep, I said it -- more volatility.
04/13/2012 05:11 EDT
Budget Schmudget, Canadians are Sittin'

Budget Schmudget, Canadians are Sittin' Pretty

With Greece and other peripheral euro zone countries on the verge of debt implosion, Japan's deficit soaring above Mount Fuji, and the U.S. at a stage where a one trillion dollar deficit would be seen as a successful budget, Canada's deficits appear minor.
03/30/2012 12:59 EDT
Playing the Presidential

Playing the Presidential Cycle

The only thing that will derail Obama's second term is a sudden pullback in the economy. The irony is that the improved conditions that we are witnessing today, the ones that will likely engineer an Obama victory, are the same ones that will potentially work against the economy during his second term.
02/21/2012 12:05 EST
Before Buying a House, Do the

Before Buying a House, Do the Math

Indeed, if we look at the spread between term mortgage rates and comparable government bond yields, it has widened since last year. In other words, banks are less willing to pass along the borrowing cost savings to homeowners that they themselves are enjoying in the wholesale market.
01/23/2012 03:36 EST
A New Year for Stock

A New Year for Stock Markets

Depending on one's perspective, 2011 will be viewed as disappointing, bordering on terrible; or, it will be looked back on as a year where we should be thankful. Investors were brought face to face (finally) with the reality that solving the 2007-08 housing and credit crisis merely kicked the can down the road to the next bus stop; that being government debt.
12/31/2011 09:45 EST
Euro Crisis Comes to

Euro Crisis Comes to Us

While last week ended on a positive note in terms of Europe's handling of its fiscal crisis, Canadians need to focus their concern on the so-called indirect effects from Europe's woes. The reality is that Europe has a very small footprint when it comes to Canadian trade abroad.
12/13/2011 12:22 EST
The Super Committee's Lost

The Super Committee's Lost Opportunity

As Americans head into their Thanksgiving long weekend, they will have plenty of things to be thankful for. Unfortunately, an effective government will not be one of them. There was a feeling that members of Congress would get their respective acts together and put to rest any doubts over fiscal repair in the U.S.
11/24/2011 08:54 EST
Canada's Well-Deserved Economic

Canada's Well-Deserved Economic Accolades

Canadian banks will be closing the books on the fiscal year come Halloween and no matter how this last quarter shakes out in terms of earnings, there will be at least a sigh of relief among executives that some of the intense concerns from back at the end of the third quarter (July) have dissipated.
10/30/2011 06:29 EDT