Standard Chartered analysts Steve Englander and Dan Pan say the market’s key
question is what US midterm results imply for policy over the next two years.
They argue a sizable Democratic majority would likely still fall short of the
margin needed to overturn a presidential veto, so markets may see extensive
policy debate but limited economic consequential action. They flag December
2026 budget talks and end-2027 debt-ceiling negotiations as potential triggers
for renewed government shutdown and debt-default risk.
