Daniel Sinigaglia, Latam Economist at Standard Chartered, points out that the Brazil’s electoral season is approaching its final stages as the second-round of voting for the presidency and the governorships of 14 out of 27 states will take place on Sunday, 28 October.
Key Quotes
“Polls suggest that Bolsonaro (Social Liberal Party – PSL) will become the next president. Since the second week of October, after the first-round vote, voter intentions have not shifted enough to suggest a different result. Bolsonaro remains ahead with c.50% of total votes, while Haddad (Worker’s Party – PT) has 38%.”
“As the result seems clear, market participants are increasingly focused on the possible makeup of the new administration.”
“The fundamental test for the next administration will be whether it can build a working majority in Congress. While we see constructive signals, it remains to be seen whether Bolsonaro can navigate this challenge.”
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