Brazil Elections To Be Decided in Runoff

Brazil’s leftist President Dilma Rousseff placed first in Sunday’s election but did not get enough votes to avoid a runoff and will face pro-business rival Aecio Neves after he made a dramatic late surge into second place, partial results showed.

After Brazil’s most volatile campaign in decades, Neves’ emphasis on “safe change” and his record as a popular two-term governor convinced enough opposition voters that he was the surest bet to try to unseat Rousseff, who has presided over a long economic slump but remains popular among the poor.

With three-quarters of votes counted, Rousseff led with 40.4 percent support compared to 35.2 percent for Neves.

Marina Silva, a prominent environmentalist who had recently led opinion polls but saw her support collapse late in the campaign, was in third place with just 21 percent of votes.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza