(Bloomberg) -- The first round of Brazilian elections made some of the nation’s largest hedge fund managers more optimistic, betting the odds of a major turnabout in Latin America’s largest economy have dwindled. The Oct. 2 vote showed a narrower-than-expected gap between front-runner Luiz Inacio Lula da Silva and incumbent Jair Bolsonaro. On top of that, Congressional elections underscored the strength of right-wing parties, signaling that Lula would likely have a hard time trying to implement more radical measures if elected. A runoff vote between the leftist leader and Bolsonaro is slated for Oct. 30.