The Brazil ETF EWZ attracted $700 million on Monday, its biggest daily inflow in its 25 year history. The fund gained 12% that day, one of its 10 largest daily advances but not a record, alongside the previously reported record $8 billion in trading volume.
Bolsonaro received 47.03% of valid votes in Sunday’s first round, ahead of President Luiz Inácio Lula da Silva’s 45.16%. Neither secured the majority required to win outright, sending them to an Oct. 25 runoff. Investors are betting the rally will continue, though that wager hinges on a fiscal overhaul whose details remain largely unknown.