Brazilian Stocks Surge as Bolsonaro Emerges as Runoff Favorite
Brazilian equities rallied sharply after the first round of the country’s presidential election, with markets increasingly pricing in a victory for former President Jair Bolsonaro in the Oct. 25 runoff against incumbent Luiz Inácio Lula da Silva. Investors appeared to interpret the result as a sign of stronger support for pro-market policies, even as the race remains highly contested and politically charged.
