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
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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.