Both candidates in Brazil’s October 25 presidential runoff have publicly confirmed participation in the Band-led debate scheduled for October 18, the first direct face-off after neither appeared in first-round events. Lula announced his attendance and challenged Flávio Bolsonaro to join; the PL senator initially declined but reversed course within 24 hours once Lula’s commitment was clear. A Globo debate is also set for October 23, with Flávio’s participation still under campaign review. These confirmed commitments and the short timeline before voting explain the strong trader consensus reflected in current pricing.