Bolsonaro-backed candidates also did better than expected in state and senate races.He also said he’ll work to make “good alliances” for the runoff and improve his support in key states including Rio de Janeiro and Minas Gerais. In a surprise scrum with journalists Sunday night, a very calm Bolsonaro blasted pollsters, highlighted economic improvements seen lately – from lower fuel and energy prices to his Auxilio Brasil cash transfer program – and alerted about the dangers of the left returning to power, citing his go-to examples of Nicaragua, Argentina and Venezuela.Second rounds are chances to build alliances and further develop proposals, he said. In a speech, Lula said all his elections went to runoffs, and he always believed – and still believes – he’ll win the election. The excitement is not just because Bolsonaro did better than expected, but also because his strong showing may push Lula further toward the center. The results fueled a rally in Brazilian assets, with the currency jumping more than 3%, leading all emerging-market peers, and stocks surging by about the same, with state-run companies Sabesp, Petrobras and Banco do Brasil leading the way, climbing at least 7% each.The two men will now go to a runoff on Oct. The first round of the presidential vote was much tighter than expected, withLuiz Inacio Lula da Silva falling short of the outright majoritythat some polls signaled he had and Jair Bolsonaro doing better than surveys predicted.
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