# Brazil markets post best day since 2020 as Bolsonaro outperforms polls

> The Bovespa index jumped 5.5% in a single session, its largest one-day gain since April 2020, after Jair Bolsonaro outperformed polling in Brazil's first-round presidential vote. Several companies rallied more than 10%, and Petrobras preferred shares rose 8%.

- Date: 2022-10-03 · published 2022-10-03T12:00:00.000Z
- Category: policy · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/7984-brazil-markets-post-best-day-since-2020-as-bolsonaro-outperforms-polls
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A market-friendly political outcome strengthened the real and reduced expected policy risk for Brazilian assets, which can ease the cost of dollar-denominated imports for feed buyers.

## Read by commodity

- USDBRL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDBRL | 2022-10-03 | 1 | -4.0% | -4.0 | The Bovespa's 5.5% surge on the same election surprise shows a broad risk-on repricing of Brazilian assets that coincided with the sharp currency move through foreign portfolio inflows. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2019-01-03 | [Bolsonaro effect on Brazilian markets and currency — MercoPress](https://feedsoft.ai/events/12358-bolsonaro-effect-on-brazilian-markets-and-currency-mercopress.md) | -3.4% | -4.1% |
| USDBRL | 2019-01-03 | [Brazil markets soar as new government vows to shrink state](https://feedsoft.ai/events/12357-brazil-markets-soar-as-new-government-vows-to-shrink-state.md) | -3.4% | -4.1% |
| USDBRL | 2022-10-03 | [Brazil girds for tight runoff vote after Bolsonaro's strong showing \| Reuters](https://feedsoft.ai/events/7986-brazil-girds-for-tight-runoff-vote-after-bolsonaro-s-strong-showing-reuters.md) | -3.4% | -2.9% |
| USDBRL | 2025-06-25 | [Brazil’s Central Bank intervention in FX market raises questions](https://feedsoft.ai/events/24424-brazil-s-central-bank-intervention-in-fx-market-raises-questions.md) | -0.7% | +0.9% |
| USDBRL | 2024-12-20 | [Markets stabilize as Central Bank acts, House OKs spending review](https://feedsoft.ai/events/27147-markets-stabilize-as-central-bank-acts-house-oks-spending-review.md) | +1.0% | -1.9% |

## Sources

- reuters.com: https://www.reuters.com/markets/europe/bolsonaros-strong-showing-brazil-vote-may-boost-markets-bankers-say-2022-10-03/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.