Why inflation pessimism is premature
August 13, 2025
The monetary conditions for a second inflation rise into the Kondratyev peak have yet to fall into place.
NS Partners is part of the Connor, Clark & Lunn Financial Group, a multi-boutique investment management company whose affiliates collectively manage over $154 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.
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Insights
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Is Eurozone labour market resilience about to crumble?
August 8, 2025
Weakening job openings suggest that a negative economic scenario is starting to crystallise.
Global money update: US relative strength
July 31, 2025
US six-month real narrow money momentum recovered in June, in contrast to a further slowdown in the Eurozone and outright weakness in Japan / the UK.
UK money update: misleading M4ex
July 30, 2025
Moderate growth of the Bank of England’s M4ex measure conceals weak corporate / household money trends.
Eurozone money update: further softening
July 25, 2025
June money numbers cast doubt on ECB President Lagarde’s assertion that policy-makers are “in a good place”.
Value-Up trade revived in South Korea as President Lee takes power
July 21, 2025
In this month’s commentary we cover the surge in South Korean equities fuelled by recently elected President Lee’s embrace of governance reform.
EM money update: India hotting up
July 18, 2025
Six-month real narrow money momentum remains stronger in the E7 than G7, with India a new source of strength and China stabilising after a pull-back.
Why has UK money growth slumped?
July 11, 2025
Monetary weakness may partly reflect temporary factors but also signals an overrestrictive policy stance.
A “monetarist” perspective on current equity markets
July 9, 2025
Global six-month real narrow money momentum fell sharply between March and May, suggesting economic weakness from late 2025.
International Equity Strategy Commentary
June 30, 2025
Strategy Commentary for Q1 2024 on the International Equity Strategy
Global Emerging Markets Equity Strategy Commentary
June 30, 2025
Strategy Commentary for Q1 2024 on the Global Emerging Markets Equity Strategy
Quarterly Liquidity Insight
June 30, 2025
Q1 2024 Quarterly Market Liquidity for Emerging Markets
Hong Kong’s US dollar overhang
June 24, 2025
Demand for US dollar deposits may be starting to wane, contributing to weakness in local rates and upward pressure on the RMB.
Chinese money update: losing momentum
June 17, 2025
Chinese monetary trends suggest a continuation of lacklustre economic growth with negligible inflation.
Are EM equities great again?
June 16, 2025
In this month’s commentary we go under the hood of the recent rally in EM equities, and cover Mexico’s controversial judicial elections and their impact on the country’s institutional quality.
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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