Overall, we think this is a situation where rigorous, fundamentally driven credit selection and patience are critical to effective investment decisions, given the challenging situation facing Brazil and the likelihood of continued high levels of volatility.
1 Source: Bloomberg LP, JPMorgan CEMBI Broad Diversified Index, Sept. 29, 2015
2 Source: Bloomberg LP, JPMorgan CEMBI Broad Diversified Index, Oct. 24, 2008
3 Source: Bloomberg LP, JPMorgan CEMBI Broad Diversified Index, Oct. 5, 2015