Investors eager to trade on a Brazilian election that’s too close to call are prioritizing derivatives over outright bets after market favorite Flávio Bolsonaro gained ground on President Luiz Inácio Lula da Silva.

Investors are piling into bullish options tied to Brazilian stocks, getting ready for a potential rally ahead amid signs the upcoming presidential race will be tighter than expected.

The worst trading outage ever in Brazilian financial markets was just the latest disruption over the past year to bedevil investors in Latin America’s biggest economy.

Federal Reserve Bank of St. Louis President Alberto Musalem said that with inflation running above the central bank’s 2% target, policymakers cannot afford to tolerate higher inflation while they wait for the possibility of stronger productivity growth.

Weeks hearing key advisers to Brazil’s leading presidential candidates talk about their plans for Latin America’s largest economy have only deepened investor concerns about the outlook for the nation’s rapidly rising debt burden.

A Brazilian Supreme Court justice ruled that Jair Bolsonaro can remain under house arrest, extending a 90-day stint that had been granted due to the former president’s deteriorating health.

When Brazil faces Japan in the World Cup early Monday afternoon, operators of the country’s power grid will have another concern in mind: keeping the system stable as millions of Brazilians step away from factories, offices and stores to gather in front of TVs.

Brazil’s most prominent conservative family is feuding again, posing fresh risks to the presidential candidacy of Flávio Bolsonaro just when it seemed he had an opening to hit leftist leader Luiz Inácio Lula da Silva.

Former First Lady Michelle Bolsonaro signaled she plans to remain on the sidelines of Flávio Bolsonaro’s presidential campaign after what she described as a disrespectful phone call with her stepson, exposing fresh tensions within the family at the center of Brazil’s right-wing opposition to President Luiz Inácio Lula da Silva.

The Brazilian Senate leader from President Luiz Inácio Lula da Silva’s party stepped down from his post after a police investigation uncovered connections to failed lender Banco Master.

Brazilian investigators suspect Banco Master and related entities paid for an apartment and premium concert tickets for relatives of Senator Jaques Wagner as part of a scheme to conceal kickbacks to the senior ally of President Luiz Inácio Lula da Silva, according to Supreme Court documents.

Brazil’s federal police targeted Senator Jaques Wagner, the government leader in the upper house, as part of an investigation into alleged irregularities linked to Banco Master, according to a person with knowledge of the matter.

Brazil’s Supreme Court voted to keep former banker Daniel Vorcaro’s father in jail after the latest proposal for a plea deal fell through in the sprawling fraud investigation into failed lender Banco Master.

Brazil’s Supreme Court found former lawmaker Eduardo Bolsonaro guilty of trying to unlawfully interfere with judicial proceedings related to the trial of his father, former President Jair Bolsonaro, who was convicted of plotting a coup after his 2022 election defeat.

Brazilian prosecutors rejected a cooperation agreement proposed by Daniel Vorcaro, the former banker at the center of a massive fraud investigation, according to a person familiar with the matter.

Brazil’s economic team is seeking to negotiate with Congress to prevent final approval of three bills that would add more than 170 billion reais ($33 billion) to the nation’s budget over the next 10 years, Planning Minister Bruno Moretti said.

Brazil’s economic team is seeking to negotiate with Congress to prevent final approval of three bills that would add more than 170 billion reais ($33 billion) to the nation’s budget over the next 10 years, Planning Minister Bruno Moretti said.

Brazil’s electoral court suspended the circulation of an AtlasIntel poll that showed Senator Flávio Bolsonaro losing ground in the presidential race, citing alleged problems with the pollster’s methodology.

Hours after the US proposed 25% tariffs on Brazil, President Luiz Inácio Lula da Silva had found a way to seize on the threat.

Hours after the US proposed 25% tariffs on Brazil, President Luiz Inácio Lula da Silva had found a way to seize on the threat.