00:00Well, it is a result that has sent shockwaves across the globe, a surprise result in the
00:05Brazilian election yesterday that really has upset the apple cart, surprised a lot of people
00:14that the Brazilian senator on the right, Flavio Bolsonaro, exceeding the expectations before
00:22the vote in this first round presidential vote and actually beating the incumbent left-wing
00:27President Lula in the Brazilian first round. Now, you can see here what actually happened.
00:35Bolsonaro outperforming expectations, getting 47% of the vote to Lula's, 45% of the vote in the first
00:43round. And you can see there very clearly, this isn't what was expected. Once again, the polling
00:49industry seems to have got this catastrophically wrong. And it's interesting, isn't it? The polling
00:54industry seems to consistently discount and underestimate support nearly always on the
01:01right, isn't it? Very rarely do you see the popularity of candidates on the left underestimated,
01:07do you? Funny that. But you can see very clearly here, the pollsters got this one wrong and a big
01:16show of support for Bolsonaro in that first round. Now, there will be a second round because neither
01:22the candidate got over 50% of the vote. But what you also know is that other candidates in Brazil
01:30on
01:30the right did very well too. And off the back of that, Brazilian asset set to jump because of that
01:39better than expected right wing at showing in the first round for Bolsonaro and for his allies. Now,
01:46that sets up, as I said, a second round runoff between the incumbent left wing President Lula and
01:56Bolsonaro in the second round. So what you're now looking at is potentially Bolsonaro winning here
02:04in that second round because there are a number of other right wing candidates who've got relatively
02:09small amounts of support. But if that support now shifts in the second round, that could make,
02:15obviously, a massive difference. Bolsonaro saying the result signalled at the end of an era for Lula's
02:22Workers' Party. And you can see there Lula himself actually admitting that the result was not exactly
02:31what he expected, that he thought he would win potentially in that first round, but that there
02:36will now be that second round. And if you look at South America now, an absolutely monumental change in
02:42terms of right wing gains. As you've seen in Europe in recent times, right wing gains in pretty much every
02:49recent election. But yeah, a surprise result there in Brazil. Do let me know your thoughts on that in the
02:55comments below. Please do whack this video. A quick thumbs up. And of course, as ever, cheers for watching.
02:59So let's see.
02:59Here we go.
