Ibovespa Rises on Electoral Optimism Despite Hotter-Than-Expected IPCA

Brazilian stocks rally as polls favor Flávio Bolsonaro in the presidential runoff, fueling expectations of tighter fiscal control and lower future interest rates. The move persists despite September IPCA inflation at 0.82% (above 0.74% consensus) and softer oil prices. Market is pricing political change over near-term inflation pressure.