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Stock photo: Unsplash
The Context
Brazil is Latin America’s largest economy, and its most consequential election is now a rematch by proxy. Lula’s fourth-term bid pits continuity against a Bolsonaro family still commanding the right, and the outcome sets trade and industrial policy for a decade.
The Takeaway
- Lula’s fourth-term bid makes Brazilian policy risk a 2026 planning input, not a footnote.
- Currency and commodity exposure to Brazil deserves hedging before the campaign hardens further.
- Brief your board on both outcomes now rather than after the first round lands.
Source: The Guardian