Global money update: EM strength
November 27, 2025
Global money trends suggest that major economic weakness will be deferred until later in 2026.
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UK inflation: “monetarist” optimism on track
November 19, 2025
Inflation is realigning with lagged money trends as policy distortions fade.
Chinese money update: lacklustre outlook
November 14, 2025
October money / credit numbers were mixed, suggesting a continuation of sluggish economic growth.
Flows before pros?
November 10, 2025
Structural liquidity and investor flows are reshaping market dynamics and asset prices in emerging markets.
Manufacturing roll-over?
November 6, 2025
The forecast of an inflection weaker in global manufacturing PMI new orders is supported by the “internals” of the latest survey.
Global money update: slowdown on pause
October 29, 2025
Global six-month real narrow money momentum recovered for a second month in September, though remains below a March peak.
Eurozone money update: sluggish as she goes
October 28, 2025
Monetary trends continue to cast doubt on economic optimism.
Are global monetary “buffers” exhausted?
October 21, 2025
A modified “monetarist” approach suggests that money stocks are no longer exerting an upward pull on nominal GDP and asset prices.
Rallying EM equities led by re-rating potential in perennially cheap South Korean equities
October 17, 2025
Large caps lead EM higher, and South Korea’s Value-Up is still in play.
Chinese money update: steady as she goes
October 17, 2025
Chinese money trends suggest a continuation of sluggish economic growth and a supportive liquidity environment for markets.
Monetary risks from private credit
October 14, 2025
Credit tightening in private markets may mark the end of a boom in US bank lending to shadow banks, with negative monetary implications.
A “monetarist” perspective on current equity markets
October 7, 2025
Recent slower money growth is consistent with a cyclical perspective suggesting economic / market weakness in 2026-27.
International Equity Strategy Commentary
September 30, 2025
Strategy Commentary for Q1 2024 on the International Equity Strategy
Global Emerging Markets Equity Strategy Commentary
September 30, 2025
Strategy Commentary for Q1 2024 on the Global Emerging Markets Equity Strategy
Quarterly Liquidity Insight
September 30, 2025
Q1 2024 Quarterly Market Liquidity for Emerging Markets
Connor, Clark & Lunn
Financial Group Ltd.
NS Partners is an affiliate of Connor, Clark & Lunn Financial Group Ltd. (CC&L Financial Group), one of the largest private, independently held asset management firms in Canada. Together, we provide a broad range of distinct and independently managed traditional and alternative investment products and services to investors through a diverse family of affiliates.
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Jean-Philippe Lemay
Managing Director,
Head of Institutional Sales, Global
Eric Hasenauer
Senior Vice President,
Co-Head of Institutional Sales, USA
John Ricketts
Senior Vice President,
Co-Head of Institutional Sales, USA
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NS Partners Ltd.
December 6th, 2021