Voters called for change in Tuesday’s nationwide elections, but the financial world isn’t expecting much of it.

“The political gridlock may look different, but it will likely remain,” concluded a note to investors penned by John Silvia, chief economist for Wells Fargo Securities in Charlotte, North Carolina.

The reason for Silvia’s low expectations are President Barack Obama’s veto powers and the fact that the Republicans did not win a super majority in the Senate to overcome procedural hurdles that make it likely Democrats can block many initiatives from advancing in the upper chamber.

President Obama and presumptive Senate Majority Leader Mitch McConnell on Wednesday pledged to try and work together, and the first test will be around Dec. 11, when a continuing resolution to fund the government runs out and in a lame-duck session the Democrat-led Senate and Republican-led House of Representatives must agree on spending for the rest of the fiscal year, which began on Oct. 1.

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