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Posted Zero Hedge
Summary:
- NYT: Several electoral lawyers say today’s vote could be annulled
- With 99.7% of ballots counted, Lula has 51.8% of the vote, while Bolsonaro has 48.2%.
- Brazilian Supreme Court Judge Extends Voting Time By Two Hours
- Brazil Runoff Enters Final Hour: Left-Right Showdown Could Reshape Latin America’s Political Balance
Election Could Be Annulled
New York Times reporter Adam Ellick reports:
Several electoral lawyers say today’s vote could be annulled due to confusion over the late decision to extend voting hours. All four lawyers interviewed call the situation unprecedented.
“This is an extremely serious, critical situation,” said Priscilla Sodré Pereira, an electoral lawyer. Supreme Court Justice Cristiano Zanin decided, minutes before polls closed, to extend all polling stations by two additional hours.
By the time of the announcement, some polling centers had already closed, their voting machines had shut down, and they could not reopen.
Fernando Neisser, an electoral law professor at Fundação Getulio Vargas, a Brazilian research institute, said the election could be annulled if the margin is very narrow and it is shown that polling stations stayed open longer in areas that strongly favor one candidate.
Meanwhile …
Latest Election Update
With 99.7% of ballots counted, Lula has 51.8% of the vote, while Bolsonaro has 48.2%.
8 hours ago, Bolsonaro was 82% odds on to win…
Earlier, Lula asked a Brazilian Supreme Court judge to extend voting nationwide by two hours.
That likely allowed…
“If a conservative government in Brazil did this, everyone in the mainstream press in America would lose their minds, but I guess they’re just choosing to be silent because it’s all for the cause,” Donald Trump Jr. wrote on X, commenting on Lula’s last-minute request to extend voting.
In markets, Hyperliquid’s Brazil ETF perpetual crashed nearly 30% as the “Bolsonaro trade” unwinds.
Bloomberg analyst Felipe Saturnino cited Isabela Fukase, a fixed-income portfolio manager at Tivio Capital, who warned: “There will be a ‘circuit breaker’ in Brazil stocks and DI rates tomorrow” if Lula is confirmed as the winner.
Fukase said that, in that scenario, swap rate futures would rise “more than 150 basis points easily, 200 basis points,” while the Brazilian real would likely fall about 10%.
All it took for Lula and the socialists was to extend the election. This will probably be challenged.
Brazilian Supreme Court Judge Extends Voting Time By Two Hours
AFP News reports that a Brazilian Supreme Court judge extended voting nationwide by two hours after complaints that public transport problems had hindered access to polling stations.
Justice Cristiano Zanin ordered polling stations to remain open until 7 p.m. local time, or 6 p.m. in New York, following a request from President Luiz Inácio Lula da Silva.
One key question is whether the additional voting window boosts turnout in Lula’s favor. The transport complaints also raise questions about cheating.
Hyperliquid’s Brazil ETF perpetual dropped 3.5% on the news.
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