President Luiz Inácio Lula da Silva is seeing his support erode in Brazil’s northeast, a region traditionally aligned with his cause. Recent polls show an increasingly narrow lead against his main opponent, Senator Flávio Bolsonaro. Nationally, Lula holds only a slim advantage, with some polls placing him barely ahead or tied in potential runoff scenarios. This shift has caused markets to price in reduced confidence in the incumbent president’s first-round victory.
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