Victory Doesn't Mean Democrats Will Be Able to Implement Program -- Market Talk

1017 GMT - The Democrats' victory in U.S. midterms does not mean that the party will be able to implement its program, Edmond de Rothschild Asset Management's Nabil Milali says in a vote. President Trump retains a veto, which is likely to block any legislation with which he disagrees, the portfolio manager says. While President Trump has indicated his willingness to collaborate with the Democrats, "the political reality and the pressure his party is bound to exert should dissuade him from granting any major victories to his political opponents ahead of the 2028 presidential election," he says. Institutional deadlock is likely with no major progress on fiscal policy which should limit the widening of the budget deficit, mitigating one of the factors exerting upward pressure on U.S. Treasury yields. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

November 04, 2026 05:17 ET (10:17 GMT)