From Brazil Reports · Ignacio Gutierrez · · 1m
Brazilian markets rally after Bolsonaro leads in presidential vote
Brazilian stock market jumps 7% as Bolsonaro leads in presidential first round.
In brief
Brazilian stock market jumps 7% as Bolsonaro leads in presidential first round. Brazilian markets rose 7% after right-wing candidate Flavio Bolsonaro led in presidential first round. Originally reported by Brazil Reports.
Brazilian markets rally
Brazilian markets surged 5% as right-wing candidate Flavio Bolsonaro led in presidential first round.
PL wins legislative seats
Partido Liberal won 19 Senate seats and 121 Chamber of Deputies seats, creating largest bloc in both houses.
Market reaction signals hope
Markets reacted positively to fiscal austerity and de-regulation commitments from Bolsonaro's campaign.
Monica De Bolle's warning
Monica De Bolle warns PL may need to spend to stay in power, not slash spending.
“No fiscal adjustment is going to happen”
PL's fiscal plan limited
PL's spending rule covers only 10% of federal budget, no primary surplus targets.
Lula's fiscal approach
Lula maintains 2023 fiscal framework with no revisions to social programs.
The essence
Brazilian markets rose 7% after right-wing candidate Flavio Bolsonaro led in presidential first round.
