Slim Lula win raises stable expectations for Brazil

50.9% of the vote

Market watchers expect a smooth transition into a new Lula da Silva government in Brazil, with early forecasts betting the tight run contest will create a moderate leadership.

The 77 year old left wing Lula won the presidential election with 50.9% of the vote against right wing incumbent Jair Bolsano, who, however, performed better than expected. Bolsano has yet to concede, but some of his key allies have done so, dampening fears he will contest the result.  Eurozone inflation jumps to record high as economic growth slows US president Biden moved fast to congratulate Lula to legitimise the result, and demonstrations by Bolsonaro's staunch loyalist supporters, such as truck drivers blocking roads in some states, failed to gain broader traction.  Omotun...