Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Meituan</li>
<li>UST yields ended little changed on Friday, after unwinding declines earlier in the day following the weaker than projected CPI data. The UST curve marginally twisted steeper, with the yield on the 2Y UST down 1 bp to 3.48%, while that on the 10Y UST was unchanged at 4.00%. Equities advanced, as the soft CPI data affirmed market expectations for further Fed easing.</li>
<li>The S&amp;P 500 rose 0.8% to 6,792, and the Nasdaq climbed 1.1% to 23,205. US Treasury Secretary Scott Bessent said on Sunday that the US has worked out a framework agreement with China.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Meituan
UST yields ended little changed on Friday, after unwinding declines earlier in the day following the weaker than projected CPI data. The UST curve marginally twisted steeper, with the yield on the 2Y UST down 1 bp to 3.48%, while that on the 10Y UST was unchanged at 4.00%. Equities advanced, as the soft CPI data affirmed market expectations for further Fed easing.
The S&amp;P 500 rose 0.8% to 6,792, and the Nasdaq climbed 1.1% to 23,205. US Treasury Secretary Scott Bessent said on Sunday that the US has worked out a framework agreement with China.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Vedanta Resources</li>
<li>The UST curve twisted slightly steeper yesterday, following dovish comments from a few Fed officials that kept rate-cut expectations intact. The yield on the 2Y UST fell 2 bps to 3.48%, while the yield on the 10Y UST was unchanged at 4.03%.</li>
<li>Equities retreated, owing to fresh US-China trade tensions. The S&amp;P 500 fell 0.2% to 6,644, while the Nasdaq declined 0.8% to 22,522.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Vedanta Resources
The UST curve twisted slightly steeper yesterday, following dovish comments from a few Fed officials that kept rate-cut expectations intact. The yield on the 2Y UST fell 2 bps to 3.48%, while the yield on the 10Y UST was unchanged at 4.03%.
Equities retreated, owing to fresh US-China trade tensions. The S&amp;P 500 fell 0.2% to 6,644, while the Nasdaq declined 0.8% to 22,522.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group</li>
<li>UST yields increased yesterday, led by the front end, as market attention shifted to the release of PPI and CPI data over the next two days. The UST curve bear-flattened, partly unwinding four straight days of yield declines. Yields on USTs rose 7 bps to 3.56% for the 2Y, and 5 bps to 4.09% for the 10Y.</li>
<li>Equities rallied to reach fresh record highs, as the expectation of Fed rate cuts offset the weakening jobs data. The S&amp;P 500 was 0.3% higher at 6,513, while the Nasdaq increased 0.4% to 21,879.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group
UST yields increased yesterday, led by the front end, as market attention shifted to the release of PPI and CPI data over the next two days. The UST curve bear-flattened, partly unwinding four straight days of yield declines. Yields on USTs rose 7 bps to 3.56% for the 2Y, and 5 bps to 4.09% for the 10Y.
Equities rallied to reach fresh record highs, as the expectation of Fed rate cuts offset the weakening jobs data. The S&amp;P 500 was 0.3% higher at 6,513, while the Nasdaq increased 0.4% to 21,879.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group</li>
<li>The US market was closed for Labour Day yesterday.</li>
<li>Contracted sales for China's Top 100 developers in August declined 18% y-o-y and 2% m-o-m to CNY 207 bn (albeit narrowing from -24% y-o-y in July), according to CRIC.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group
The US market was closed for Labour Day yesterday.
Contracted sales for China's Top 100 developers in August declined 18% y-o-y and 2% m-o-m to CNY 207 bn (albeit narrowing from -24% y-o-y in July), according to CRIC.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group</li>
<li>Long-end treasury yields rose on Friday, amid US President Donald Trump’s threats of a 35% tariff on Canadian goods and a 15-20% baseline tariff on other countries without deals. The UST curve bear steepened, with the yield on the 2Y UST rising 1 bp to 3.88%, while that on the 10Y UST was up 6 bps at 4.41%. Equities retreated from all-time highs, with the S&amp;P 500 and Nasdaq down 0.3% and 0.2%, at 6,260 and 20,586, respectively.</li>
<li>Mr Trump has shared tariff-letter screenshots on Truth Social to announce a 30% tariff on goods from the EU and Mexico, which are separate from all sectoral tariffs. The letters warn that “goods transhipped to evade a higher tariff will be subject to that higher tariff”, and “if for any reason you decide to raise your tariffs and retaliate, then, whatever the number you choose to raise them by, will be added onto the 30% that we charge”.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group
Long-end treasury yields rose on Friday, amid US President Donald Trump’s threats of a 35% tariff on Canadian goods and a 15-20% baseline tariff on other countries without deals. The UST curve bear steepened, with the yield on the 2Y UST rising 1 bp to 3.88%, while that on the 10Y UST was up 6 bps at 4.41%. Equities retreated from all-time highs, with the S&amp;P 500 and Nasdaq down 0.3% and 0.2%, at 6,260 and 20,586, respectively.
Mr Trump has shared tariff-letter screenshots on Truth Social to announce a 30% tariff on goods from the EU and Mexico, which are separate from all sectoral tariffs. The letters warn that “goods transhipped to evade a higher tariff will be subject to that higher tariff”, and “if for any reason you decide to raise your tariffs and retaliate, then, whatever the number you choose to raise them by, will be added onto the 30% that we charge”.


China

Seazen is a property developer in the Yangtze River Delta, focusing primarily on the development of residential properties and mixed-use complex projects.

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Seazen (Formerly Future Land) (1030 HK)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Meituan

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Vedanta Resources

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group UST yields increased yesterday,...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group The US market was closed for...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group Long-end treasury yields rose on...

Lucror Analytics

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