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: China Jinmao, Hanwha TotalEnergies, JSW Steel</li>
<li>UST yields fell 5-7 bps on Friday, as oil prices fell on optimism of a re-opening of the Strait of Hormuz. This came after Iranian Foreign Minister Abbas Araghchi announced that the strait was open for all commercial vessels for the duration of the Israel-Lebanon ceasefire. Moreover, US President Donald Trump claimed that "Iran has agreed to never close the Strait of Hormuz again". The yield on the 2Y and 10Y UST fell 7 bps and 6 bps to 3.71% and 4.25%, respectively. Equities climbed, alongside gold and cryptocurrencies.</li>
<li>The S&amp;P 500 and Nasdaq advanced 1.2% and 1.5% to reach fresh closing records of 7,126 and 24,468, respectively. That said, equity futures were trading lower, while crude oil jumped c. 6% from Friday's close, following news that Iran's military had re-closed the Strait of Hormuz over the weekend.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, Hanwha TotalEnergies, JSW Steel
UST yields fell 5-7 bps on Friday, as oil prices fell on optimism of a re-opening of the Strait of Hormuz. This came after Iranian Foreign Minister Abbas Araghchi announced that the strait was open for all commercial vessels for the duration of the Israel-Lebanon ceasefire. Moreover, US President Donald Trump claimed that "Iran has agreed to never close the Strait of Hormuz again". The yield on the 2Y and 10Y UST fell 7 bps and 6 bps to 3.71% and 4.25%, respectively. Equities climbed, alongside gold and cryptocurrencies.
The S&amp;P 500 and Nasdaq advanced 1.2% and 1.5% to reach fresh closing records of 7,126 and 24,468, respectively. That said, equity futures were trading lower, while crude oil jumped c. 6% from Friday's close, following news that Iran's military had re-closed the Strait of Hormuz over the weekend.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao</li>
<li>UST yields rose 3-5 bps across the curve on Friday, as the market reduced Fed rate-cut expectations. This followed the release of a spike in the March CPI, even though the data showed that inflation came in marginally below estimates.</li>
<li>The yield on the 2Y UST rose 3 bps to 3.80%, while the yield on the 10Y UST climbed 4 bps to 4.32%. Equities were mixed.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao
UST yields rose 3-5 bps across the curve on Friday, as the market reduced Fed rate-cut expectations. This followed the release of a spike in the March CPI, even though the data showed that inflation came in marginally below estimates.
The yield on the 2Y UST rose 3 bps to 3.80%, while the yield on the 10Y UST climbed 4 bps to 4.32%. Equities were mixed.


<ul>
<li>UST yields climbed yesterday, led by the front-end, on account of a poor auction of 2Y notes that tailed by 1.8 bps.</li>
<li>That said, longerdated yields pared much of the intraday gains to end just slightly higher.</li>
<li>The yield on the 2Y UST climbed 4 bps to 3.89%, while the yield on the 10Y UST was up 2 bps at 4.36%. </li>
</ul>


UST yields climbed yesterday, led by the front-end, on account of a poor auction of 2Y notes that tailed by 1.8 bps.
That said, longerdated yields pared much of the intraday gains to end just slightly higher.
The yield on the 2Y UST climbed 4 bps to 3.89%, while the yield on the 10Y UST was up 2 bps at 4.36%. 


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, West China Cement, Biocon Biologics</li>
<li>UST yields declined yesterday, led by the front end, following the Fed’s 25-bp rate cut and announcement that it will commence T-bill purchases. The UST curve bull steepened sharply, with the yield on the 2Y UST falling 8 bps to 3.54%, while the yield on the 10Y decreased 4 bps to 4.15%.</li>
<li>Fed-dated OIS continued to price in two rate cuts in 2026 (one before June and another by October), despite the FOMC’s dot plot indicating just one cut for 2026. Equities climbed, with the S&amp;P 500 rising 0.7% to 6,887.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, West China Cement, Biocon Biologics
UST yields declined yesterday, led by the front end, following the Fed’s 25-bp rate cut and announcement that it will commence T-bill purchases. The UST curve bull steepened sharply, with the yield on the 2Y UST falling 8 bps to 3.54%, while the yield on the 10Y decreased 4 bps to 4.15%.
Fed-dated OIS continued to price in two rate cuts in 2026 (one before June and another by October), despite the FOMC’s dot plot indicating just one cut for 2026. Equities climbed, with the S&amp;P 500 rising 0.7% to 6,887.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, Longfor Group, Genting Berhad</li>
<li>The UST curve bull steepened meaningfully yesterday, on haven flows and Fed-easing expectations after credit concerns hit two US regional banks. The yield on the 2Y UST fell 7 bps to 3.43%, while that on the 10Y UST declined 5 bps to 3.98%.</li>
<li>Equities and risk assets (e.g. bitcoin) slumped following credit fears in the economy, while gold soared above USD 4.3 k/oz. The S&amp;P 500 decreased 0.6% to 6,629, and the Nasdaq dropped 0.5% to 22,563.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, Longfor Group, Genting Berhad
The UST curve bull steepened meaningfully yesterday, on haven flows and Fed-easing expectations after credit concerns hit two US regional banks. The yield on the 2Y UST fell 7 bps to 3.43%, while that on the 10Y UST declined 5 bps to 3.98%.
Equities and risk assets (e.g. bitcoin) slumped following credit fears in the economy, while gold soared above USD 4.3 k/oz. The S&amp;P 500 decreased 0.6% to 6,629, and the Nasdaq dropped 0.5% to 22,563.


Hong Kong

China Jinmao is a leading city operator primarily engaged in real estate development, including high-end residential, commercial, and mixed-use properties, alongside hotel and retail operations. The company also provides property management and construction technology services. It was founded in 2004 and is headquartered in Hong Kong.

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China Jinmao (817 HK)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, Hanwha TotalEnergies, JSW Steel

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao UST yields rose 3-5 bps across...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, 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: China Jinmao, West China Cement, Biocon Biologics

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, Longfor Group, Genting Berhad

Lucror Analytics

Price Gauge

52-week Range

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