Lula and Flávio Bolsonaro trade attacks in their first run-off debate a week before a near-tied vote

President Luiz Inácio Lula da Silva and Senator Flávio Bolsonaro, the son of former president Jair Bolsonaro, attacked each other repeatedly in their first face-to-face debate on Sunday, a week before the October 25 run-off. The South China Morning Post described a contentious exchange and noted that the senator led in the polls going into the debate. InfoMoney's account lists public security, the economy, health, the working week and foreign policy as the main subjects. After the broadcast, police sent a bomb squad to check a suspicious object near the station. Both candidates had already left.

The race is close. Flávio Bolsonaro won the first round 47% to 45%. Since then, Quaest has shown him ahead 46% to 44%, Datafolha 47% to 45%, and CNT/MDA on Sunday 46.8% to 45.9%. A Vox Brasil poll puts Lula ahead 51% to 49% of valid votes, a statistical tie given the margins involved. Brazilian right-wing figures have started citing Polymarket odds as a better guide than polls.

The working week is a fiscal question as well as a campaign question. A constitutional amendment to end the six-day working week (the "6x1" schedule) is moving through the Senate, and both camps are negotiating in Congress during the campaign.

Folha's markets desk reports a broader shift. The strong rallies in equities and currencies that followed right-wing election wins across Latin America are now losing momentum. New governments are running into fiscal reality, and investors are weighing whether to keep buying or to take profits.