Global markets are entering a decisive capital rotation. For more than a decade, institutional portfolios were dominated by technology and growth equities, underpinned by zero interest rates, subdued inflation, and cheap energy. That era is over.

Over our last two AI-related newsletters, we explored the emergence of agentic AI as a new strategic force reshaping the tangible economy – from autonomous operations in energy, logistics, and manufacturing, to the infrastructure and power required to support it. But as with every disruptive technology cycle, a wave of breathless claims and speculative fervor has emerged. The challenge for investors and operators today: separating the signal from the noise.

Moneta is proud to announce that our CEO, Erin Campbell, will be a featured speaker at Her Wealth Summit on September 20, 2025, in Vancouver, BC. Erin will share her insights on “Investment Strategy & Management: Approaches for Building and Protecting Wealth in a Dynamic Market.”

Stagflation is no longer a forecast; it is here. Fiscal deficits are ballooning, inflation remains sticky, and growth is rolling over in almost every advanced economy, particularly Canada and the U.S. What is different this time is the structural policy backdrop creating demand that cannot simply vanish in a slowdown.

Moneta’s own Mary Hemmingsen, CPA will be joining Andy Calitz for the upcoming Canada Energy Supply Transition Tour on September 17th, 2025.

In a previous newsletter, we explored how agentic AI – a class of autonomous, decision-making systems – is establishing itself as a transformational force across many economic sectors. But as investors seek to position themselves on this tech wave, the question of the physical infrastructure needed to support these agents also comes into focus, as well as the energy and resource implications of scaling this autonomy across economies globally.