Citigroup suggests investors increase their bullish bets on Brazilian stocks and local currency bonds. Previously, Bosonaro's performance in the first round of voting in the presidential election was better than expected. “Bosonaro is a more market-friendly candidate, promising fiscal austerity, privatization, deregulation, and VAT cuts,” Citi strategists wrote in the report. According to Citi, the predicted market pricing shows that Bosonaro is expected to win the October 25 runoff. Citi suggests buying Brazilian stocks and government bonds due in 2031, the so-called NTN-F.

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