A “monetarist” perspective on current equity markets
October 7, 2026
Monetary trends suggest a peak in economic momentum and less liquidity support for markets.
Experienced
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actively managed global, developed and emerging equity market portfolios.
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What explains the bond bear?
October 1, 2026
The recent rise in global government bond yields reflects a restrictive shift in global “excess” money conditions.
Global money update: August weakness
September 25, 2026
Monetary trends may be starting to confirm a negative 2027 economic outlook suggested by cycle analysis.
Are we all emerging markets now?
September 17, 2026
China’s export machine risks provoking a political backlash among trading partners struggling to absorb a glut of high-end manufactured goods.
Cycle update: expected 2027 weakness crystallising
September 17, 2026
The short-term stockbuilding cycle is rolling over with the long-term housing cycle on track to accelerate into a 2027-28 low.
Global money update: cooler despite US
September 4, 2026
Money trends suggest that global economic momentum is peaking in Q3, with downside risk focused on Europe and Japan.
Eurozone money update: French weakness
August 27, 2026
Monetary trends continue to suggest coming economic disappointment.
US money update: more strength
August 26, 2026
Monetary trends continue to suggest too-loose policy.
Japanese money update: further weakness
August 20, 2026
Rising QT and f/x intervention are intensifying a monetary squeeze.
AI reflexivity and EM rotation
August 18, 2026
The AI bulls are tested by a huge momentum unwind through July despite fundamentals accelerating. Meanwhile, there are signs that the rally in emerging markets is starting to broaden out despite a challenging macro backdrop.
More UK stop-go
August 13, 2026
Money trends signalled better H1 economic growth but now suggest renewed weakness.
Global money update: US lift
August 7, 2026
US monetary acceleration has tempered an earlier signal of a H2 global economic slowdown.
Taking stock of EM performance
July 31, 2026
India has fallen out of favour with emerging market investors as attention has shifted to North Asian technology stocks.
US money update: further acceleration
July 29, 2026
Monetary buoyancy puts Fed Chair Warsh in a bind.
Eurozone money update: signal still downbeat
July 28, 2026
Monetary trends suggest that recent PMI improvement will prove temporary.
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.
For additional information on NS Partners Ltd, please contact:
![Jean-Philippe-Lemay, CC&L FG [504x504_03]](https://ns-partners.cclgroup.com/wp-content/uploads/sites/3/2025/06/FG_-Jean-Philippe-Lemay_504x504_03.jpg)
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 6, 2021