Brazil stock market optimism tempered as fears grow over October vote By Reuters

BUENOS AIRES/MEXICO CITY (Reuters) – Brazilian stocks will rise less than previously expected this year as fears over October’s presidential vote tarnish the outlook for the second half and double-digit interest rates prompt a switch to deposit accounts, a Reuters poll showed.

In recent weeks, Brazil’s benchmark stock index has pared the bulk of its first-quarter gains, pressured by intensifying election rhetoric and the impact of the central bank’s ultra-hawkish push to fight inflation. It is now up 5.2% from end 2021 levels.