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market comments

December 2025 Market Comments: Can the Bull Run "Do It Again"?

by Pierre Mouton Jan 6 2026

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NS Partners SA
Rue du Mont-Blanc 18
CH- 1201 Genève

T:+41 22 906 52 50
E: geneva@nspgroup.com

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NS Partners SA
Freigutstrasse 6
Postfach
8027 Zurich
Switzerland

T:+41 44 280 69 70
E: zurich@nspgroup.com

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NS Partners Europe SA
11, Boulevard de la Foire
L-1528 Luxembourg

T:+352 26 27 11 1
E: luxembourg@nspgroup.com

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NS Management Ltd.
Old Devonshire Post Office Building
29 Middle Road - Devonshire DV06
Bermuda

T:+1 441 232 5000
F:+1 441 232 4999
E: bermuda@nspgroup.com

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NS Asset Management UK Ltd
25 Upper Brook Street
London W1K 7QD
United Kingdom

T:+44 20 7529 5350
E: london@nspgroup.com

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NS Partners Europe SA
Paseo de la Castellana 21
28046 Madrid,
Spain

T:+34 91 133 6900
E: madrid@nspgroup.com

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NS Partners Europe SA
Via della Spiga 52
20121 Milano (MI)
Italy

T:+39 02 89096771
E: milano@nspgroup.com

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