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Signal versus noise: the case of Brazil
Weekly investor research
17 July 2017
Brazil offers a good example which illustrates the difference between signal and noise in investing. A complete mess from a journalistic perspective, Brazil has been one of the best investments in global fixed income markets and continues to offer an attractive investment proposition. We examine why countries with so much bad news can be such excellent investments. We also provide an update on EM corporate high yield bonds, whose default rates are now falling faster than any other region on earth.