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Brazil’s 10-year government bond yield surged to around 15.6% in late October, its highest level in a decade, as Brazilian assets sold off following President Lula’s victory over Flávio Bolsonaro in the presidential runoff. The move reversed optimism after the first round, when Bolsonaro outperformed polls and finished
The Nasdaq rose to a fresh high, while Brazilian assets logged historic gains after Flavio Bolsonaro's strong first-round showing in Brazil's presidential election. The column also noted a stronger dollar, higher U.S. yields and a weaker euro.