Debt Desk — Debt Desk — November 3, 2026: Election Day, Hormuz Strikes and a Steeper Lending Test
Good morning. It is Tuesday, November third.
The national brief begins with Election Day. Americans are voting in every House district, thirty-five Senate contests and thirty-six races for governor, with control of Congress and the direction of President Trump’s final two years in office at stake.
More than fifty-seven million people had already voted by Monday. Democrats need a net gain of three seats to take the House. In the Senate, where Republicans hold a fifty-three to forty-seven advantage, Democrats need four pickups for control. Their most direct opportunities include North Carolina…
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