Apparently Wall Street would quite like gridlock in Congress.
Short term, maybe. Long term, I’m not sure gridlock is going to help Wall Street. I’ve said it before, for the market to head upwards in a sustained fashion, it will require sustained doses of good news, something that logically, surely, can’t be on the cards?
For yes, the “d” word again. The US federal deficit, running at 10% of GDP, needs to be dealt with it. And a gridlocked congress is barely going to be able to get to grips with anything, let alone such a tough topic as that. Which long term, doesn’t bode well for anyone.