Brazilian Stock Market Drops Amid Bolsonaro Son’s Candidacy
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Brazilian Analysts Favor Tarcísio de Freitas over Flávio Bolsonaro in 2026 Presidential Race
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Financial analysts are increasingly optimistic about the prospects of São Paulo Governor Tarcísio de Freitas in the 2026 Brazilian presidential election, viewing him as a more viable candidate than Flávio Bolsonaro, son of former President Jair Bolsonaro. A recent poll further supports this assessment, placing Luiz Inácio Lula da Silva in the lead, followed by Freitas adn then Ratinho Jr., with Bolsonaro trailing significantly.
Published December 7, 2023
Market Preference for Governor candidates
Analysts believe Tarcísio de Freitas, currently the Governor of São Paulo, is better positioned to challenge current President Luiz Inácio Lula da Silva. “The market sees Tarcísio as having a greater chance of reaching the second round and winning than the current president,” stated Nomos’ investment director in a report to CNN Brasil. This sentiment stems from Freitas’ perceived ability to appeal to Bolsonaro voters without carrying the same level of negative association.
Gustavo Cruz of RB Investimentos explained that while Flávio Bolsonaro could possibly reach a second-round runoff, he is not considered a serious contender for victory. “The reading is that a son of former president Bolsonaro could reach the second round, but would not be competitive to win the elections. And the market prefers some of the governors,” Cruz said.
Bolsonaro’s Diminished Prospects
Analysts cite high rejection rates for the Bolsonaro family as a major obstacle for Flávio Bolsonaro’s candidacy. Nomos’ investment director noted that Flávio Bolsonaro has “negligible chances of winning the elections” due to this widespread disapproval. Sérgio Vale from MB Associados added that Flávio Bolsonaro lacks the economic vision necessary to compete with Freitas and other governors, stating, “Flávio does not have a vision for the economic reforms that Tarcísio or other governors would have.”
Current Polling Data
A Datafolha poll released on December 7, 2023, indicates that Luiz Inácio Lula da Silva (Workers’ Party – PT) leads the presidential race with 39% of the vote. Tarcísio de Freitas (republicans) trails with 34%, followed by Paraná Governor Ratinho Jr. (Social Democratic Party – PSD-PR) at 33%. Flávio Bolsonaro (Liberal Party – PL-SP) receives 24% support, placing him 15 points behind Lula, according to the Datafolha survey.