Brazilian Markets Surge as Bolsonaro's Presidential Odds Improve

Brazilian stocks are rallying significantly after the first round of presidential elections, with incumbent Flávio Bolsonaro now seen as the heavy favorite to win the run-off. Investors are reacting positively to Bolsonaro's perceived market-friendly stance and promises of greater fiscal discipline 🔗.

Key impacts:

• iShares MSCI Brazil ETF (EWZ) up over 12% 🔗.
• U.S.-listed shares of Itau Unibanco gained 15% 🔗.
• Banco Bradesco surged 19% 🔗.
• Brazil’s local Bovespa index rose 8% 🔗.

Prediction markets now give Bolsonaro over an 80% chance of winning, up from ~60% pre-election 🔗.