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Brazilian Assets Soar as Presidential Race Goes to Runoff

  • Leftist challenger took 48% to Bolsonaro’s 44% on Sunday vote
  • Runoff in Latin America’s largest economy set for Oct. 30
Bloomberg business news
WATCH: Brazilian President Jair Bolsonaro fought his way to a runoff election against Luiz Inacio Lula da Silva. Aline Oyamada reports.Source: Bloomberg
Updated on

Brazilian assets jumped after President Jair Bolsonaro secured his way to a runoff election against Luiz Inacio Lula da Silva as investors cheered on the incumbent’s better-than-expected showing and bet his leftist challenger will be forced to moderate his stances in the second stretch of the race.   

Lula, as he is universally known, took 48% to Bolsonaro’s 43%, Brazil’s electoral court said, with almost all votes counted.