Investment Banker Warns Trump Could Become More Unconstrained After Midterm Losses

Steve Brice, global chief investment officer at Standard Chartered Bank, said Democrats appeared headed for a strong showing in the 2026 midterm elections and warned that President Donald Trump could face fewer political constraints during the remainder of his term, Jordan Novet reported for CNBC.

Standard Chartered global chief investment officer Steve Brice discussed the potential market implications of the U.S. midterm elections and the continuing conflict with Iran. [Photo: Hubbis]

Speaking on CNBC's Squawk Box Asia, Brice questioned whether a Democratic victory would meaningfully constrain the administration in ways that could improve investor confidence.

“How much can they constrain the administration in a constructive way that’s positive for risk appetite?” Brice said.

He also expressed concern about the ongoing war in Iran, particularly after the United States carried out additional strikes on Monday.

“I think it’s a tactical move ahead of the elections,” he said. “I think we’re going to see continued toing and froing between the US administration and the Iran leadership on this issue, and therefore, there’s going to be volatility in oil prices.”