Lula's election victory thwarts right-wing bets, Brazil stocks and currency may see sharp volatility.

Zhito Finance APP has learned that Brazilian President Luiz Incio Lula da Silva won re-election on Sunday, defeating right-wing Senator Flvio Bolsonaro. The result poses a test for financial markets: investors had bet on a change of government in Brazil, and with Lula's victory, those positions are expected to be unwound en masse amid sharp volatility in the coming week.