Brazil's highly-polarized presidential election should be of little comfort to global investors, analysts told CNBC on Friday.
Voters in Latin America's largest economy head to the polls on Sunday, in a vote many consider to be the most important ballot in the country's history.
Leading the race to become Brazil's next commander-in-chief is former military officer and far-right candidate Jair Bolsonaro. Behind him, according to the latest opinion polls, is leftist candidate Fernando Haddad, a former Sao Paolo mayor who has taken the baton from former President Luiz Inacio Lula Da Silva.
"There is a significant element of wishful thinking from the markets (when) looking at Bolsonaro as a pro-business candidate," Carlos Caicedo, senior principal analyst for Latin America at IHS Markit, a London-based research firm, told CNBC's "Street Signs" on Friday.