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: Medco Energi, Yuexiu Property, Xiaomi Corp, Nissan Motor</li>
<li>The UST curve twisted steeper yesterday, as front-end yields declined on the back of a solid auction for 2Y notes. That said, long-dated yields ended higher, amid concerns over the US central bank's independence after President Donald Trump moved to oust Fed Governor Lisa Cook. The yield on the 2Y UST fell 4 bps to 3.68%, while that on the 10Y UST was down 1 bp at 4.26%.</li>
<li>Equities climbed, with the S&amp;P 500 and Nasdaq both up 0.4% at 6,466 and 21,544, respectively</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Yuexiu Property, Xiaomi Corp, Nissan Motor
The UST curve twisted steeper yesterday, as front-end yields declined on the back of a solid auction for 2Y notes. That said, long-dated yields ended higher, amid concerns over the US central bank's independence after President Donald Trump moved to oust Fed Governor Lisa Cook. The yield on the 2Y UST fell 4 bps to 3.68%, while that on the 10Y UST was down 1 bp at 4.26%.
Equities climbed, with the S&amp;P 500 and Nasdaq both up 0.4% at 6,466 and 21,544, respectively


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Bharti Airtel</li>
<li>UST yields ended mixed yesterday, with the curve twisting steeper, following a soft auction for 10Y notes that tailed by 1 bp.</li>
<li>The yield on the 2Y UST declined 1 bp to 3.71%, while that on the 10Y UST was up 2 bps at 4.23%. Equities rebounded from Tuesday’s dip, with the S&amp;P 500 and Nasdaq rising 0.7% and 1.2%, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Bharti Airtel
UST yields ended mixed yesterday, with the curve twisting steeper, following a soft auction for 10Y notes that tailed by 1 bp.
The yield on the 2Y UST declined 1 bp to 3.71%, while that on the 10Y UST was up 2 bps at 4.23%. Equities rebounded from Tuesday’s dip, with the S&amp;P 500 and Nasdaq rising 0.7% and 1.2%, respectively.


Independent Asian Credit Research, Bondcritic

Warut Promboon

Independent Asian Credit Research

Asian Fixed Income/Frontier Market Research

Bondcritic

Bondcritic, established in 2009, is designed to be an independent credit research voice that helps investors gain insights and unbiased analyses on Asian fixed income market. Our mission is to discover deep-value Asian high-yield and distressed bonds with a bottom-up approach, together with the help of our proprietary ESG (Environmental, Social Development, and Governance) model. At the same time, we focus on bringing investment cases of unrated and unloved issuers to the general public.

Debt Capital Markets

Asia High Yield Bond Index / Debt Capital Markets

<ul>
<li>Inflation will remain sticky but we expect the recession headline to keep a lid on consumer spending which should also limit the possibility of a future rate hike.</li>
<li>We believe fixed rate bonds should be the instrument of choice toward the end of this year. </li>
<li>Rising default and a lack of growth in developed markets should also bode well for Asian US Dollar (USD) bonds.</li>
</ul>


Inflation will remain sticky but we expect the recession headline to keep a lid on consumer spending which should also limit the possibility of a future rate hike.
We believe fixed rate bonds should be the instrument of choice toward the end of this year. 
Rising default and a lack of growth in developed markets should also bode well for Asian US Dollar (USD) bonds.


Asian Bond Monitor: Asian Bonds for the Upcoming Recession

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Greenko Energy</li>
<li>UST yields rose 3-4 bps across the curve on Friday, after US President Donald Trump cut off trade talks with Canada.</li>
<li>This unwound yield declines earlier in the day, on the back of weaker than expected personal spending and income data. The yield on the 2Y and 10Y UST advanced 3 bps to 3.75% and 4.28%, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Greenko Energy
UST yields rose 3-4 bps across the curve on Friday, after US President Donald Trump cut off trade talks with Canada.
This unwound yield declines earlier in the day, on the back of weaker than expected personal spending and income data. The yield on the 2Y and 10Y UST advanced 3 bps to 3.75% and 4.28%, respectively.


<ul>
<li>Treasury yields fell 9-10 bps across the curve yesterday, as the weak ADP employment and ISM services data raised expectations for Fed rate cuts.</li>
<li>The yield on the 2Y UST declined 9 bps to 3.87%, while that on the 10Y UST was down 10 bps at 4.36%.</li>
<li>Equities were largely steady, with the S&amp;P 500 unchanged and the Nasdaq up 0.3%. </li>
</ul>


Treasury yields fell 9-10 bps across the curve yesterday, as the weak ADP employment and ISM services data raised expectations for Fed rate cuts.
The yield on the 2Y UST declined 9 bps to 3.87%, while that on the 10Y UST was down 10 bps at 4.36%.
Equities were largely steady, with the S&amp;P 500 unchanged and the Nasdaq up 0.3%. 


Indonesia

MedcoEnergi is an Indonesian multinational energy and natural resources company. It focuses on upstream oil and gas exploration and production, clean energy development, and copper and gold mining operations. The company was founded in 1980 and is headquartered in Jakarta, Indonesia.

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MedcoEnergi (MEDC IJ)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Yuexiu Property, Xiaomi Corp,...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Bharti Airtel

Lucror Analytics

Asian Bond Monitor: Asian Bonds for the Upcoming Recession

Inflation remains high but recession fears will limit consumer spending and future rate hikes. Fixed rate bonds and Asian USD bonds are...

Bondcritic

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Greenko Energy

Lucror Analytics

Lucror Analytics - Morning Views Asia

Treasury yields fell 9-10 bps across the curve yesterday, as the weak ADP employment and ISM services data raised expectations for Fed rate cuts.

Lucror Analytics

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Yuexiu Property, Xiaomi Corp,...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Bharti Airtel

Lucror Analytics

Asian Bond Monitor: Asian Bonds for the Upcoming Recession

​Inflation remains high but recession fears will limit consumer spending and future rate hikes. Fixed rate bonds and Asian USD bonds are...

Bondcritic

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Greenko Energy

Lucror Analytics

Lucror Analytics - Morning Views Asia

Treasury yields fell 9-10 bps across the curve yesterday, as the weak ADP employment and ISM services data raised expectations for Fed rate cuts.

Lucror Analytics

Inflation remains high but recession fears will limit consumer spending and future rate hikes. Fixed rate bonds and Asian USD bonds are...