Edward Meir's week in review and thoughts for the week of Nov. 9, 2026

We had a wild week in various markets, courtesy of the aftershocks emanating from the US congressional midterm elections. Although most polls and prediction markets expected a Democratic victory in the House and a likely pickup in the Senate, the extent of the gains far exceeded most forecasts.

Six days after the elections wrapped up, we are still waiting for results in a number of races to come in. Two Senate seats are still undecided, although the Democrat is leading in each one. If the two Democrats prevail, the overall tally for their party in the Senate would reach 56, nearly a 20-year high. In the House, the Democrats needed to win 218 seats for control. They are now up to 254, with another 19 races still undecided.