Bolsonaro Takes Surprise Lead Over Lula in Brazil Election First Round

Flávio Bolsonaro has surged to a surprise lead over Luiz Inácio Lula da Silva in the first round of Brazil's presidential election. With counting nearly complete, Bolsonaro took about 47% of the vote to Lula's roughly 45%. The two candidates will face off in a runoff on October 25. The result marks a significant political shift in Latin America's largest economy. Brazilian assets are expected to surge when markets open Monday on signs that Bolsonaro is poised for victory. Investors are reacting to the prospect of a rightward turn in Brazil's government, which could bring market-friendly policies. Bloomberg's Julia Leite reports on the implications for the economy and financial markets. For more on Bloomberg Television and Markets, subscribe and turn on notifications to stay updated on the latest global market news and analysis. Visit Bloomberg.com for business news, analysis, and up-to-the-minute market data.