Brazil's electoral turnaround rescues old formulas
The market punishment after Lula's re-election is severe, but exporters still offer investors some breathing room
Brazilian President Luiz Inácio Lula da Silva's re-election has left investors reeling. His rival, Flávio Bolsonaro, had been leading in polls and prediction markets, with expectations of spending cuts and market-friendly reforms. Lula countered with proposals focused on voters' pockets, including a 15% increase in social benefits, free public transport on weekends, and a shorter workweek without pay cuts.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
