Brazilian equities are rallying sharply after Flávio Bolsonaro emerged as a heavy favorite to win the presidency following the first-round election. Prediction markets now give Bolsonaro over an 80% chance of victory, up from 60% pre-election 🔗.
Investors view Bolsonaro as more market-friendly due to promises of greater fiscal discipline. The iShares MSCI Brazil ETF (EWZ) jumped over 12%, and Brazil's local Bovespa index rose 8% 🔗.
Brazilian stocks jump as Bolsonaro now seen as heavy favorite to win presidency
CNBC.COMOct 5, 3:47 PM UTC
0