Ibovespa Volatile as US Core CPI Beats, Bolsonaro Poll Lead Widens

Brazil's Ibovespa swung between gains and losses on Wednesday as hotter-than-expected US core CPI triggered global risk aversion, pressuring local equities. Later, election polls showing Senator Flávio Bolsonaro widening his lead over President Lula provided some support, though the index closed lower. The market is now pricing the dual impact of US inflation on Fed policy and domestic political uncertainty ahead of the election.