There was a time when presidential elections in Brazil dictated the direction of financial markets. Now things are different. By all accounts, the domestic structured finance arena has been untouched by the first-round presidential vote on Oct. 1, and the lead up to a run-off ballot set for Oct. 29, between Workers Party incumbent Luiz Inacio Lula da Silva and Social Democrat rival Geraldo Alckmin.
"In terms of issuance and the market, we haven't seen anything slowing down," said Jayme Bartling, director of structured finance at Fitch Ratings. The numbers bear that out.