With Brazil's presidential election first round scheduled for Sunday, Wall Street analysts are preparing for significantly different market reactions depending on whether leftist Luiz Inacio Lula da Silva or right-winger Flavio Bolsonaro wins. JPMorgan Chase predicts that a Bolsonaro victory could lead to a 21%-41% upside for the MSCI Brazil index and a decline in interest rates to a nominal 10%, with the USD/BRL exchange rate moving to 4.90. Conversely, if Lula wins, the firm expects USD/BRL to reach 5.50. Analysts anticipate Bolsonaro's win would favor fiscal discipline, which is seen as crucial for Brazil's public debt, currently at 81.9% of GDP.