How should we evaluate Jair Bolsonaro, the far-right populist leader and self-proclaimed Trump supporter, in the 2018 Brazilian general election?

Bolsonaro led in the first-round vote, and Brazil’s capital markets responded with a sharp rally. In this era of surging right-wing sentiment, what kind of world will emerge? Truly exhilarating.

Wall Street Insights Morning Briefing FM-Radio | October 5, 2026

Trump stated on Friday that the conflict with Iran would ‘end very soon’—a claim he has made dozens of times before. He added that the next steps against Iran were ‘proceeding smoothly.’ According to U.S. media reports, members of the administration’s ‘core cabinet’ held a several-hour closed-door meeting on Friday at Camp David—the presidential retreat in Maryland—to discuss the Iran conflict and the next steps regarding Saudi Arabia’s involvement in the war with Yemen’s Houthi movement. When asked by reporters that same day about the U.S. government’s next move against Iran, Trump replied that it was ‘proceeding very smoothly’ and that ‘Iran’s situation is not good.’ ・ Iran’s parliament speaker said on Sunday that the Strait of Hormuz would remain closed until certain conditions are met. ・ Iran’s Foreign Ministry responded to the U.S. proposal: the current priority is the Strait of Hormuz issue; it expressed willingness to facilitate dialogue between the Houthis and Saudi Arabia. ・ Iran’s foreign minister warned that any further military action by the adversary would trigger a ‘more devastating’ retaliation. Trump announced the creation of a ‘Super Intelligence Special Task Force,’ confirming National Intelligence Director Jay Clayton as the ‘AI Czar.’ Trump stated that the ‘Super Intelligence Force’ (SIF) would coordinate federal government efforts related to superintelligence. The task force will be jointly led by Jay Clayton, FTC Chair Andrew Ferguson, Department of Defense Chief Technology Officer Emil Michael, and Office of Personnel Management Director Scott Kupor, and will report directly to Trump and White House Chief of Staff Susie Wiles. ・ The ‘AI Czar’ has been appointed! Reports indicate the White House has established a ‘superintelligence’ task force, aiming to deliver an AI regulatory framework within 120 days. ・ Trump is reportedly set to appoint a new ‘AI Czar’: the National Intelligence Director succeeds a Silicon Valley executive, signaling a policy pivot toward security-focused AI governance. ・ Last week’s White House AI Summit ‘power map’: Zuckerberg received the strongest endorsement from Trump; Musk deliberately kept his distance; Amodei’s anxiety was unmistakable. ・ Treasury Secretary Bessent ‘put out fires’: rising U.S. Treasury yields reflect a global phenomenon—not an AI bubble, he argued. On Saturday, Treasury Secretary Bessent criticized prominent AI figures’ warnings about AI technology posing enormous risks, calling such statements alarmist and unhelpful, and urging the industry to strengthen self-regulation and propose practical solutions. Bessent also attributed part of inflationary pressure to oil-price spikes caused by the Iran conflict, forecasting that the energy shock would subside as hostilities wind down. South America’s ‘most important election’ began Sunday: Brazil’s presidential vote will determine the nation’s political trajectory—left or right. Lula’s campaign accused the U.S. of interference, while Wall Street bet on right-wing candidate Bolsonaro. Incumbent President Lula and right-wing challenger Bolsonaro are neck-and-neck; the first round is highly likely to lead to a runoff on October 25. Prediction markets assign Bolsonaro roughly a 60% chance of winning. A victory would significantly bolster momentum for fiscal reform. Wall Street investment banks have placed options bets on the strengthening of Brazil’s local currency, the real, to capture potential post-election appreciation. Masayoshi Son, long a staunch AI advocate, suddenly issued a warning: superintelligence could be ‘extremely dangerous.’ SoftBank founder Masayoshi Son—who has long held unwavering optimism about AI—issued a rare warning: as AI capabilities grow exponentially, superintelligence falling into the wrong hands could become ‘extremely dangerous,’ and nations must enhance cooperation to manage these risks.

Brazil's Currency, Stocks Jump After Bolsonaro Scores First-Round Upset

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Brazilian assets rallied after Senator Flavio Bolsonaro led the presidential election first round, boosting stocks and currency amid expectations of pro-market reforms. Pulpmaker Suzano fell while retailers and lenders gained significantly.

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Brazil's Currency, Stocks Jump After Bolsonaro Scores First-Round Upset

Brazil's Currency, Stocks Jump After Bolsonaro Scores First-Round Upset

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