Geopolitical events
On October 4, 2026, Brazil commenced its general elections, opening polls to nearly 160 million registered voters to elect the president, vice president, governors, and members of the National Congress. The presidential race centers on incumbent President Luiz Inácio Lula da Silva facing conservative challenger Flávio Bolsonaro in an election closely watched by global markets for its implications on macroeconomic policy, fiscal sustainability, and foreign investment. Because polling suggests neither candidate is likely to secure an outright majority in the first round, electoral authorities have scheduled a nationwide presidential runoff election for October 25, 2026, to determine the final outcome if necessary.