On November 3rd, senior leaders from Hancock Whitney Asset Management recorded their November 2026 Markets and Economic Update Webcast on the morning of the U.S. midterm elections, examining the potential implications of congressional control, continued economic resilience, geopolitical developments in the Middle East, and the outlook for financial markets.
Recorded on Election Day morning, the webcast reflects the panelists' perspectives before results were known. The team discussed how changes in congressional leadership could influence tax policy, government spending, regulatory oversight, and financial markets. While political uncertainty remains an important consideration, the discussion emphasized that the balance of power between Congress and the White House could limit sweeping policy changes.
For additional perspective on the election results and their potential implications for the economy and financial markets, read Hancock Whitney Asset Management's special report, A New Balance of Power.
Beyond the election, the U.S. economy continues to demonstrate strength, supported by healthy consumer spending and accelerating business investment, particularly in AI infrastructure and technology. However, persistent inflation and renewed tensions involving Iran continue to create challenges for energy markets and Federal Reserve policy. Meanwhile, October brought a rebound in bond markets and a rotation in equities, as investors shifted away from mega-cap technology stocks toward a broader range of companies. Despite near-term uncertainty, the team maintained a cautiously optimistic outlook, supported by strong corporate fundamentals and resilient economic growth.
“Historically, the mid-term elections usher in change. The odds of a Democratic sweep have increased and the outcome of the election will create an interesting policy making environment in Washington D.C.” - Scott Pieper, Investment Director
“The U.S. economy is commonly characterized as resilient, which it certainly is, however the underlying trends are strengthening and accelerating.” — Paul Teten, Chief Investment Strategist
“The core GDP has been growing gangbusters for the last two quarters in the 4.5 to 5% zone, while business capital investment over the last 7 quarters is the strongest since the 1980s.” — Paul Teten, Chief Investment Strategist
“The Iran conflict is at an inflection point, and the policy paths include escalation, containment, and diplomacy. The growing risk includes a prolonged cycle of partial negotiations, additional shipping attacks, and military action leading to higher oil prices and upward pressure on inflation.” — Scott Pieper, Investment Director
“October was a great month for bonds. Bonds were up over 2% for the month of October…The biggest factor driving the rebound was relative value. The Treasury ten year peaked on October 7th at 5.3%. And that was enough to get investors interested. That’s an attractive yield... The second biggest factor was the volatility in the equity markets... Flight to safety was a big driver in the bond market.” — Jeff Tanguis, Director of Fixed Income
“October was a complete reversal from September. Large-cap growth in September was a positive thing and everything else was negative. The exact opposite happened in October. Mega cap growth was negative and nearly everything else is positive.” — Martin Sirera, Director of Equities
“Corporate fundamentals are still very strong… I would say that it’s a little early to be optimistic on stocks, but to maybe bring back an old but friendly term cautiously optimistic.” — Martin Sirera, Director of Equities
We encourage you to listen to the full recording for deeper insight into how the midterm elections, monetary policy, AI-driven capital investment, and geopolitical developments may influence the economy and financial markets through the remainder of 2026 and into 2027.
Our Asset Management team at Hancock Whitney is ready to help you align your portfolio to weather uncertainty and pursue long-term goals. Contact your Private Banker today.
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