The US midterm elections are approaching, and Wall Street is concerned about congressional changes and debt ceiling risks

As the 10 week countdown to the 2026 US midterm elections approaches, the Democratic Party is leading by about 6 percentage points in the general congressional vote, and the market is evaluating the impact of its recapture of congressional control on financial markets. Raymond James analyst Ed Mills said that if US President Trump encounters congressional constraints, the White House may push for tariff measures through more frequent executive orders. The market expects the US government to reach a debt ceiling of approximately $41.1 trillion by mid-2027. TD Securities warns that if the Democratic Party controls Congress, a debt ceiling deadlock could push up US bond yields and exacerbate market volatility. In addition, if the election results are delayed for a long time due to vote counting or legal litigation, the market may experience election chaos.