Brazil stocks draw record $2.01B single-day foreign net inflow

The record inflow is a political trade as much as a market one: capital is positioning around a fiscal-policy expectation attached to a single candidate, not around earnings or valuations. That makes the flow unusually fragile, since it can reverse just as quickly if the electoral picture shifts or the fiscal agenda loses credibility. For RWA and broader emerging-market allocators, Brazil's equity beta is being repriced on politics rather than fundamentals. The open question is whether this becomes a durable institutional reallocation or a one-day event that fades once the catalyst is priced in.