Brazil Elects New President Lula, Turning Latin-America Leftish

Leftist governments all over Latin America are congratulating Brasil’s new president-elect, Lula, reports Bloomberg. With the new election results Brasil joins a long list of leftish governments in the region, which among others include Argentina, Colombia, Venezuela, Chile and Mexico.

Screams and fireworks were heard throughout São Paulo, as the election results came in, which showed Lula with a tight 2% lead over Bolsonaro.

Many analysts expect Bolsonaro to follow the Trump playbook and deny the election results, alleging voter fraud. Some even see a coup d’état as possible.

Brazilian markets are expected to price in Lula’s win tomorrow negatively with lower stock valuations and a falling Real.

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