Brazil presidential election proceeds to second round with Flávio Bolsonaro leading Lula

The Guardian reports that Brazil's presidential race will go to a second round, with Flávio Bolsonaro currently leading incumbent President Lula. This outcome indicates a significant shift in the political landscape of the world's largest economy in South America.

Why it matters. The potential change in leadership in Brazil, a major G20 economy and key player in global climate and trade discussions, creates uncertainty for markets and international policy alignment.