Record Foreign Inflows to Brazil as Bolsonaro Leads in Election Polls

Key Facts

1Goldman Sachs' trading desk reported its busiest week ever in Brazil as international investors pile into the market.

2Polls show Flavio Bolsonaro leading with 51% to 52% against Lula da Silva ahead of the October 25 runoff.

3Daily trading volumes in Brazil hit a record $20 billion in a single session following the first-round election results.

Goldman Sachs' trading desk reported its busiest week ever in Brazil as international investors flooded the market. According to Reuters, daily trading volumes in Brazil hit a record $20 billion in a single session following the first-round election results. The surge in activity comes as polls show Flavio Bolsonaro leading with 51% to 52% against Lula da Silva ahead of the runoff election scheduled for October 25.

GS closed at $893.95 on October 12, 2026, amid rising expectations of a Bolsonaro victory, which markets view as a pro-market shift. In the banking sector, BAC closed at $54.58 and MS closed at $190.02 on October 12, 2026, while JPM was trading at $334.67 on October 13, 2026. These significant institutional flows reflect investor reaction to first-round results that have increased the probability of a right-wing win.