Brazilian Financial Market Hasn't Abandoned Bolsonaro, but Is already Warming Up to Lula

According to managers, there is no clear preference for either of the two main names in the dispute for the Plateau

In the 2018 elections, then-candidate Jair Bolsonaro (PL) had the massive support of the financial market in the dispute against Fernando Haddad (PT). For the upcoming election in 2022, the story seems to be different. The preference for Bolsonaro among market agents, previously supported by the figure of Paulo "Posto Ipiranga" Guedes, is far from the same as it was four years ago.

Populist and interventionist measures by the government in an attempt to increase popularity, most recently with the change in command of Petrobras, have led to growing questions among investors about the best option for the country's economy from the perspective of the financial market. .

Fund managers and economists interviewed by Folha say they are still waiting for the next moves on the political board to have greater clarity on what to expect from each candidacy in the economic area. But they also state that, between former president Luiz Inácio Lula da Silva (PT) and the current president, they do not currently have a clear preference for one name or another.

Translated by Kiratiana Freelon

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