As the market increasingly hopes, if the opposition presidential candidate Flavio Bosonaro is elected, he will begin to deal with Brazil's worsening financial problems and create conditions for interest rate cuts. The net inflow of foreign investors into Brazilian stocks listed in São Paulo reached 10.06 billion reais on October 5, setting a record for single-day inflows. The data was published by the Brazilian stock exchange B3 SA on Wednesday. Brazil's Ibovespa benchmark stock index surged 7.7% on Monday, the biggest increase in more than six years. Bosonaro unexpectedly received 47% of the vote in the first round of voting held on Sunday. Current President Luis Inácio Lula da Silva won 45% of the vote. Other Brazilian assets, including the Brazilian real and foreign-listed exchange-traded funds, rose as investors reacted to the election results. However, Bosonaro has yet to propose a detailed plan to deal with Brazil's growing fiscal deficit. Brazilian voters will vote again on October 25 to choose between the two candidates.

As the market increasingly hopes, if the opposition presidential candidate Flavio Bosonaro is elected, he will begin to deal with Brazil's worsening financial problems and create conditions for interest rate cuts. The net inflow of foreign investors into Brazilian stocks listed in São Paulo reached 10.06 billion reais on October 5, setting a record for single-day inflows. The data was published by the Brazilian stock exchange B3 SA on Wednesday. Brazil's Ibovespa benchmark stock index surged 7.7% on Monday, the biggest increase in more than six years. Bosonaro unexpectedly received 47% of the vote in the first round of voting held on Sunday. Current President Luis Inácio Lula da Silva won 45% of the vote. Other Brazilian assets, including the Brazilian real and foreign-listed exchange-traded funds, rose as investors reacted to the election results. However, Bosonaro has yet to propose a detailed plan to deal with Brazil's growing fiscal deficit. Brazilian voters will vote again on October 25 to choose between the two candidates.