UK inflation: “monetarist” optimism on track
November 19, 2025
Inflation is realigning with lagged money trends as policy distortions fade.
NS Partners is part of the Connor, Clark & Lunn Financial Group, a multi-boutique investment management company whose affiliates collectively manage over $167 billion in financial assets.
NS Partners is a manager-owned investment management boutique.
We have an experienced and cohesive investment team that owns the business.
Philosophical commitment to conviction-based macroeconomic analysis.
EVA analysis provides a disciplined approach to uncovering improving
profitability and helps us avoid value-destroying companies.
Insights
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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
Unpleasant UK fiscal arithmetic
September 25, 2025
The November Budget needs to deliver an early return to a primary surplus to calm fears of a fiscal doom loop.
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 6th, 2021