After a tight race, Bolsonaro finished ahead of Lula da Silva, and there will be a runoff in Brazil

Internacional

In the Brazilian presidential election, Liberal Party candidate Flavio Bolsonaro defeated Lula da Silva—the incumbent president and Workers' Party representative—by a margin of less than two percentage points. Given the narrow victory, the two will face off again in a runoff election on October 25 to determine the next president.

In the United States, the focus this week will be on the release of the minutes from the Federal Reserve's September monetary policy meeting, during which the benchmark interest rate was raised to the 3.75%–4.00% range. Meanwhile, the Eurozone will release data on retail sales—a proxy indicator for economic activity—for August.

US Treasury yields rose across the entire curve by Friday's close. The 1-year bond yield rose to 4.45% from 4.43%, the 3-year bond yield to 4.95% from 4.91%, and the 10-year bond yield ended at 5.27%, up from 5.24% on Thursday. Over the course of the week, yields increased across most maturities.

Major US stock indices ended Friday's trading session in positive territory following the release of September labor market data. The Nasdaq rose 1.2%, the S&P 500 gained 0.7%, and the Dow Jones climbed 0.5%. Although performance was mixed for the week, the indices have posted year-to-date gains of 17.0%, 12.8%, and 6.5%, respectively.

Source: PUENTE