Brazil

Despite announcing his candidacy late, former São Paulo mayor and presidential candidate José Serra won the opposition Partido da Social Democracia Brasileira (PSDB) primary for the São Paulo mayoral race with 52% of the vote. We are watching the October contest carefully as it will provide a good indication of where alliances lie in advance of the 2014 general election. In addition, with Serra in the São Paulo race (and therefore out of the 2014 presidential race), we believe Senator Aécio Neves is very likely to be the PSDB presidential candidate, setting up a tough race for President Dilma

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