09/07/2026
June brought a healthy pause after two blockbuster months โ but the bigger picture stayed strong. Q2 2026 goes down as the best quarter for U.S. equities since the 2020 recovery (S&P 500 +14%, Nasdaq +20%, Dow +12%), even as June itself saw the S&P 500 -1.06% and Nasdaq -2.81%.
๐ Market highlights:
๐น SpaceX IPO: largest ever at $85.7B, shares jumped $135โ$225
๐น Fed turns hawkish: new Chair Kevin Warsh flags a possible 2026 rate hike
๐น Gold: down ~25% from January's all-time high
๐น Oil: below $70/barrel on U.S.โIran progress
๐ผ Our XSpot Wealth portfolios performance:
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EUR portfolios: all positive โ Global Growth EUR +1.58% (YTD +15.50%), High Income EUR +1.61% (YTD +5.47%)
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USD portfolios: mixed โ Global Growth USD -0.73% (YTD +12.57%), High Income USD +0.53% (YTD +4.12%)
๐งญ The takeaway: Markets are advancing despite genuine uncertainty โ a defining tension likely to shape the rest of 2026. As we head into H2, all eyes turn to Q2 earnings, the Fed's next moves, and whether the Iran ceasefire holds. In this environment, disciplined asset allocation remains the best compass.
๐ Discover the full Market & Portfolio Update for June below.
Please note: Investments involve risk. Not investment advice. Past performance is not indicative of future results. Performance figures are shown gross of fees in EUR&USD terms and are based on actual portfolios returns from 1 January to 30 June 2026.
The macroeconomic picture of the global markets for the month of June and the performance of our investment portfolios.