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Conservative Presidential Candidate Kast Gains Further Momentum

CHILE
  • In the latest poll released by Cadem released on Sunday, conservative presidential candidate José Antonio Kast rose 2pts to 23%, consolidating his lead with less than a month left before the highly contested vote. He continued to be followed by Boric in second place, who maintained 20% support in the most recent survey.
  • Link to the release: https://cadem.cl/estudios/kast-sube-2pts-a-23-y-se-consolida-en-el-primer-lugar-seguido-por-boric-que-se-mantiene-en-20/
  • The latest survey follows a contentious week in local politics marked by finger-pointing over violent protests that left two people dead and 450 arrested on the second anniversary of protests breaking out in the nation.
  • While the results may prompt some initial strength for local asset prices, the prevailing uncertainties surrounding not only the election, but also relating to the constitutional rewrite and fourth pension withdrawal bill may limit the market's appetite.
  • USDCLP had a consolidatory week with firm short-term technical support remaining unchanged at 806.63, the Oct 14 low.
  • As a reminder, the first round of the presidential election will take place on Nov. 21. If no candidate obtains at least 50% of the vote, a run-off will be held on Dec. 19.
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