Brazil Election Risk: Stocks and the Real Recover Five Days Before the Vote
Brazil election risk in numbers: a record fear gauge, falling rate futures and bank bets on the real, five days before the 4 October presidential vote. The post Brazil Election Risk: Stocks and the Real Recover Five Days Before the Vote appeared first on The Rio Times .
Brazilian stocks and the Brazilian real recovered ground on Tuesday as the nation prepared to hold its presidential election five days later. The two-day swing came after jittery trading earlier in the week, as investors weighed who would win the presidency and what policies the winner would pursue. The Workers' Party candidate Luiz Inácio Lula da Silva, seeking a fourth term, faced off against Senator Flávio Bolsonaro, the son of the outgoing president Jair Bolsonaro.
The first round of voting would be held on October 4, with a runoff on October 25 if no candidate secured more than 50% of the vote. The Ibovespa, the main index of the São Paulo stock exchange, ended the day up 0.46% at 183,828 points.
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