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The Brazilian markets have been soaring in recent weeks as it became increasingly likely that Jair Bolsonaro would become Brazil’s next president.
The real has been rallying; so too has the Bovespa.
Now that Jair Bolsonaro’s victory as president has been confirmed, there is almost certainly more upside to come as the markets get even further ahead of themselves.
Brazilian payments system Stone’s IPO, which caught the wave of positive sentiment about Brazil in the run-up to Bolsonaro’s win on 28 October to list on the Nasdaq on 25 October, has already broken the country’s IPO drought.
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