President Lula’s surprise victory in Sunday’s runoff election has triggered an unwinding of earlier market optimism in Brazil but the rout is unlikely to turn into a crisis. While Lula’s populist policies will probably remain a headwind to Brazilian markets, his economic track record in government has been less unorthodox than investors appear to be giving him credit for. And a right-leaning Congress may help limit fiscal largesse.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.
