Quotes of the month

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“Phones 4U serves as a timely reminder that even in low default environments, fundamentals do matter”

Peter Aspbury, portfolio manager at JPMorgan Asset Management, reiterates that there are consequences of chasing further down the credit spectrum in the search for yield

“I met a fund manager from New York today who holds our debt. He told me: ‘I have a $1 billion cheque but I can’t sign it until I know whether the light at the end of the tunnel is an exit or a train’”

Vitaly Lisovenko, deputy finance minister of Ukraine, describes up the binary view of investing in his country

“Money doesn’t like noise”

Albert Essien, CEO of Ecobank, neatly sums up the effects of the boardroom battle that brought his bank close to collapse

“Up until three years ago Brazil was the vacuum cleaner of the region”

Mario Bergara, Uruguay’s economy and finance minister, recalls when most capital inflows went one way in Latin America. Now there is greater differentiation between countries