Brazil is preparing for a presidential election in which incumbent Luiz Inácio Lula da Silva and challenger Flavio Bolsonaro are the principal contenders identified in current polling. Reuters reported that the race is close and that an October 25 runoff is likely, although electoral outcomes remain subject to the voting process.
Fiscal policy is a major issue for financial markets in Brazil, where investors are monitoring government spending and the sustainability of public finances. The election will therefore be closely watched for its implications for economic policy and investor expectations.
Israel's parliamentary election is scheduled for October 27 and will be the country's first national vote since the October 7 attacks. The country's economy has remained resilient despite the regional conflict, but higher defence spending, geopolitical risk and fiscal pressures remain significant policy considerations.
In the United States, voters will elect members of Congress on November 3. The outcome will determine whether Republicans retain control of both chambers or Democrats gain greater influence over the final two years of President Donald Trump's term. Energy policy, tariffs, and the government's approach to the Iran conflict are among the issues that could be affected by the composition of Congress.
New Zealand will hold elections on November 7, with polling indicating a competitive contest and uncertainty over the future policy direction of the government and central bank framework.
The electoral calendar follows several significant votes earlier in the year. Japan's ruling Liberal Democratic Party secured a large majority, while Hungary's election brought a change in government. Colombia and Peru also held elections that altered the political balance in Latin America.
For investors, the significance of the remaining contests extends beyond leadership changes. Fiscal policy, public borrowing, trade rules, energy policy and central-bank relationships can all be affected by electoral outcomes.
The coming weeks will therefore place political developments increasingly alongside economic indicators in determining the policy environment facing businesses and financial markets through the end of 2026.
