Economy

Bolsonaro beats expectations in Brazil's first vote round, faces Lula in runoff

Jair Bolsonaro outperformed polling expectations in the first round of Brazil's presidential vote and will now face incumbent president Lula in a runoff.

The result makes the outcome of the runoff less predictable.

For beginners Political uncertainty in major emerging economies tends to raise volatility in local currencies and stock markets, as investors price in different scenarios for future economic policy.