Robertson Stephens Weekly Commentary – July 6, 2026

Summer is a remarkably busy season in monetary policy circles. While legislators may take long vacations (one exception being Britain this year, where the prolonged transition to a new Prime Minister is underway), central bankers and treasury officials go to conferences that are anything but holidays. Stocks staged a strong recovery in Q2, with the S&P 500 gaining +15% and finishing near record highs. The Middle East conflict and oil shock that started in Q1 continued for most of Q2, but oil prices fell as the two sides worked toward a ceasefire agreement. On the wealth planning front, we discuss the financial, tax, and ownership considerations of purchasing a second home.