Q2 2026 will be remembered as a quarter of striking contrasts. On the surface, it was one of the strongest stretches for U.S. stocks in years: all three major indexes pushed to record highs, and the rally broadened as the quarter wore on. Beneath that strength, however, ran a powerful undercurrent — inflation re-accelerated to a three-year high, oil whipsawed on the war in Iran, and a brand-new Federal Reserve chair pivoted the central bank toward a more hawkish stance, putti