Brazil's Bolsonaro has named Gaspar as his running mate, Estado reports

Running-mate selections in Brazilian presidential races have historically mattered to markets less for the name itself than for what the pick signals about the candidate's economic anchor and coalition arithmetic. Choices read as market-friendly, technocratic, or drawn from the political centre have on past occasions been treated as a commitment device on fiscal policy, while picks aimed at shoring up a ideological base have tended to leave the BRL and local rates unmoved. The transmission channel runs through election polling: anything that shifts the perceived probability of a fiscally orthodox administration re-prices the long end of the DI curve, the BRL, and the sovereign CDS, with state-linked equities the most sensitive cash expression. Worth noting that a single-press-report attribution, here to a domestic outlet, carries the usual caveat of awaiting confirmation from the campaign itself. The follow-ons are the formal ticket registration, the reaction of rival campaigns, and the first polling conducted after the announcement, which is where precedent says the durable market move is set.