Investment advisory services offered through Robertson Stephens Wealth Management, LLC (“Robertson Stephens Wealth Management, LLC”), an SEC-registered investment advisor. Registration does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. This material is for general informational purposes only and should not be construed as investment, tax or legal advice. It does not constitute a recommendation or offer to buy or sell any security, has not been tailored to the needs of any specific investor, and should not provide the basis for any investment decision. Please consult with your Advisor prior to making any Investment decisions. The information contained herein was carefully compiled from sources believed to be reliable, but Robertson Stephens Wealth Management, LLC cannot guarantee its accuracy or completeness. Information, views and opinions are current as of the date of this presentation, are based on the information available at the time, and are subject to change based on market and other conditions. Robertson Stephens Wealth Management, LLC assumes no duty to update this information. Unless otherwise noted, any individual opinions presented are those of the author and not necessarily those of Robertson Stephens Wealth Management, LLC. Indices are unmanaged and reflect the reinvestment of all income or dividends but do not reflect the deduction of any fees or expenses which would reduce returns. Past performance does not guarantee future results. Forward-looking performance targets or estimates are not guaranteed and may not be achieved. Investing entails risks, including possible loss of principal. Alternative investments are only available to qualified investors and are not suitable for all investors. Alternative investments include risks such as illiquidity, long time horizons, reduced transparency, and significant loss of principal. This material is an investment advisory publication intended for investment advisory clients and prospective clients only. Robertson Stephens Wealth Management, LLC only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of Robertson Stephens Wealth Management, LLC’ current written disclosure brochure filed with the SEC which discusses, among other things, Robertson Stephens Wealth Management, LLC’ business practices, services and fees, is available through the SEC’s website at: www.adviserinfo.sec.gov. © 2026 Robertson Stephens Wealth Management, LLC. All rights reserved. Robertson Stephens Wealth Management, LLC is a registered trademark of Robertson Stephens Wealth Management, LLC in the United States and elsewhere. A4010
Weekly Commentary
Economic Commentary: Mid Term Blues
Jeanette Garretty
Worth Watching
Mid Term Blues
Whoever “wins” on Tuesday, it’s not going to be pretty. The economic frustration of the electorate has been made readily apparent, laying down a challenge for everyone in political office. No one expects the US to do what France does on a semi-regular basis (street protests in France are something of a national pastime), but the pressure for change is immediate and the solutions not obvious.
The voting results may or may not identify a direction for fiscal policy in 2027. They almost certainly will have no impact on monetary policy. The fundamental problem is that the size of the national debt and the budget deficit constrain any grand spending plans aimed at improving affordability, and monetary policy works with at least a 12 month lag. Household economic pain would be addressed by gains in real wages via increases in employment compensation, but this upward push on wages has yet to happen, despite a relatively tight labor market and economic growth of 3.4%.
Used Car Sales Have Fallen As Interest Rates and Gasoline Prices Have Increased
Consumers will make other choices of importance as they move beyond November 3. How much to spend for holiday gifts and entertaining, whether to buy a new or used car, what to do about rising health care premiums. Some of those choices are already visible, but many are yet to be made and they will have great impact on businesses large and small.
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Disclosure and Source
Investment advisory services offered through Robertson Stephens Wealth Management, LLC (“Robertson Stephens Wealth Management, LLC”), an SEC-registered investment advisor. Registration does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. This material is for general informational purposes only and should not be construed as investment, tax or legal advice. It does not constitute a recommendation or offer to buy or sell any security, has not been tailored to the needs of any specific investor, and should not provide the basis for any investment decision. Please consult with your Advisor prior to making any Investment decisions. The information contained herein was carefully compiled from sources believed to be reliable, but Robertson Stephens Wealth Management, LLC cannot guarantee its accuracy or completeness. Information, views and opinions are current as of the date of this presentation, are based on the information available at the time, and are subject to change based on market and other conditions. Robertson Stephens Wealth Management, LLC assumes no duty to update this information. Unless otherwise noted, any individual opinions presented are those of the author and not necessarily those of Robertson Stephens Wealth Management, LLC. Indices are unmanaged and reflect the reinvestment of all income or dividends but do not reflect the deduction of any fees or expenses which would reduce returns. Past performance does not guarantee future results. Forward-looking performance targets or estimates are not guaranteed and may not be achieved. Investing entails risks, including possible loss of principal. Alternative investments are only available to qualified investors and are not suitable for all investors. Alternative investments include risks such as illiquidity, long time horizons, reduced transparency, and significant loss of principal. This material is an investment advisory publication intended for investment advisory clients and prospective clients only. Robertson Stephens Wealth Management, LLC only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of Robertson Stephens Wealth Management, LLC’ current written disclosure brochure filed with the SEC which discusses, among other things, Robertson Stephens Wealth Management, LLC’ business practices, services and fees, is available through the SEC’s website at: www.adviserinfo.sec.gov. © 2026 Robertson Stephens Wealth Management, LLC. All rights reserved. Robertson Stephens Wealth Management, LLC is a registered trademark of Robertson Stephens Wealth Management, LLC in the United States and elsewhere. A4010
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