An exchange-traded fund from Japan that follows Brazil’s Ibovespa stock index will be the first security to watch when official results from the runoff ballot emerge, followed by a fund in Singapore that tracks a separate index of Brazilian equities. Brazil’s top currency forecasters say there could be a short-lived rally if the outcome is confirmed, while some stock pickers see a massive rally ahead for the country. When European markets open, euro- and pound-denominated bonds issued by the government and big Brazilian companies could be an option for investors.