Published on July 02, 2026

Weekly Strategy Perspectives - One for the Record Books: Q2 Review and Q3 Preview

Q2 reinforced that resilient economic fundamentals and earnings growth helped global equity and fixed income markets overcome significant uncertainty, driving strong returns and challenging fears that markets were entering bubble territory.

Written by Carol Schleif, CFA, SASB-FSA

Weekly Strategy Perspectives -
One for the Record Books: Q2 Review and Q3 Preview

"One of the important factors behind the fluctuation between bull and bear markets, between booms and crashes and bubbles, is that investor memory has to fail us – and fail universally – in order for the extremes to be reached."

― Howard Marks, renowned investor

THE THROUGH LINE: Equity and fixed income markets navigated a minefield of potentially damaging disruptions during the second quarter before ending on solid footing. In fact, stocks advanced by double digits in many parts of the world. Sturdy fundamental underpinnings were a frequent focus of our commentary in Q2. We also took issue with the widely held fear that robust market advances automatically implied they are in a bubble about to burst. This week’s piece revisits key Q2 themes, hunting for clues they might offer for the months ahead.

Click to read: Weekly Strategy Perspectives - One for the Record Books: Q2 Review and Q3 Preview