RIO DE JANEIRO, BRAZIL - Outlining a preliminary scenario of the 2022 elections and its potential impact on markets, Fabio Ramos and Alexandre de Azara, economists at UBS BB, believe a runoff between President Jair Bolsonaro and ex-president Luiz Inácio Lula da Silva is more likely.
The UBS BB economists further point out that as the pandemic subsides, they see that the market's focus is shifting to the elections. "For the first time, Brazil may be faced with a choice between a sitting President and a former one," they point out.
There is increased anxiety in the market . . .