Real Tax News You Can Use with Evelyn Jacks
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Real Tax News You Can Use with Evelyn Jacks
Critical Anchors For Canada's Economic Resilience with David Wahl
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The US midterm elections are on November 3, 2026. It’s the second year of President’s second term with all 435 seats in the U.S. House of Representatives and 35 of the 100 seats in the U.S. Senate to be contested.
The Republicans currently hold a slim majority in the House and despite the fact that all 435 seats are up for grabs, the lowest number of incumbents running for re-election since records have been kept in 1930. It is possible that both the House and the Senate will tip towards the Democratic side.
So how will markets behave and what should investors be on the lookout for? According to historical data, markets traditionally don’t perform well just before the midterms. But they tend to rebound thereafter.
The key question this year is whether these familiar patterns will hold true given the global economic volatility experienced in 2026 so far? The war in Iran, for example, is expected to keep global inflationary pressures high.
And that is the key economic issue for voters in the U.S. this year, according to a recent tracking poll by The Economist, ahead of jobs, health care, immigration and taxes. The Consumer Price Index (CPI) year-over-year inflation rate has risen to 3.4 percent from 2.9 percent on Inauguration Day in Jan. 2025 and the blame for this is on the Republicans and the President specifically, who promised to reduce inflation.
Meanwhile Real GDP expanded in Canada at a 3.3% annualized pace in the second quarter and the Bank of Canada left its overnight interest rate unchanged at 2.25% for a seventh consecutive meeting, the Bank Rate at 2.5% and the deposit rate at 2.20%. Our economy has shown some resilience in other words, in the face of punishing tariffs.
To better understand what to make of the global investment environment in the midst of chaotic economic events occurring in almost every continent and address the risk factors investors may be concerned about, we have a very learned special guest on the program today.
David Wahl is a Client Portfolio Manager with Franklin Templeton’s investment team ClearBridge Investments. David joined a predecessor organization in 2016 and has close to 30 years of investment industry experience. Prior to this, David was Executive Director, Sales and Marketing at Middlefield Capital Group. He was previously Managing Director, Head of Sales at CIBC Asset Management and National Sales Manager at TD Asset Management. David earned an MBA and a BA in Economics from the University of Western Ontario, Canada.