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>US treasury movements were muted yesterday, with the curve flattening marginally ahead of today’s CPI data release.</li>
<li>The yield on the 2Y UST rose 2 bps to 4.02%, while the yield on the 10Y UST was unchanged at 4.47%.</li>
<li>Equities climbed for the third straight day, supported by optimism over US-China trade talks.</li>
</ul>


US treasury movements were muted yesterday, with the curve flattening marginally ahead of today’s CPI data release.
The yield on the 2Y UST rose 2 bps to 4.02%, while the yield on the 10Y UST was unchanged at 4.47%.
Equities climbed for the third straight day, supported by optimism over US-China trade talks.


<ul>
<li>US treasuries fell and yields rose yesterday, amid renewed US-China trade tensions and a large supply of corporate issuances.</li>
<li>Yields on the 2Y and 10Y USTs rose 4 bps to 3.94% and 4.44%, respectively.</li>
<li>Equities climbed, led by tech stocks, after the White House indicated that US President Donald Trump and his Chinese counterpart Xi Jinping will “likely” speak this week.</li>
</ul>


US treasuries fell and yields rose yesterday, amid renewed US-China trade tensions and a large supply of corporate issuances.
Yields on the 2Y and 10Y USTs rose 4 bps to 3.94% and 4.44%, respectively.
Equities climbed, led by tech stocks, after the White House indicated that US President Donald Trump and his Chinese counterpart Xi Jinping will “likely” speak this week.


Trung Nguyen

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Meituan, China Jinmao, Lenovo, AAC Technologies, China Hongqiao</li>
<li>US President Donald Trump has announced on Truth Social a 90-day pause on reciprocal tariffs for more than 75 countries, with these countries to be charged a “substantially lowered reciprocal tariff” of 10% during this transition.</li>
<li>That said, Mr Trump raised tariffs on China to 125% (from 104%), after China raised its own tariffs on US imports to 84% (from 34%) in a retaliatory move earlier yesterday.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Meituan, China Jinmao, Lenovo, AAC Technologies, China Hongqiao
US President Donald Trump has announced on Truth Social a 90-day pause on reciprocal tariffs for more than 75 countries, with these countries to be charged a “substantially lowered reciprocal tariff” of 10% during this transition.
That said, Mr Trump raised tariffs on China to 125% (from 104%), after China raised its own tariffs on US imports to 84% (from 34%) in a retaliatory move earlier yesterday.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Pakuwon Jati, Bharti Airtel, China Jinmao</li>
<li>US President Donald Trump has signed an executive order to impose 25% tariffs on imports of automobiles and auto parts from April 2 nd, saying that "what we're going to be doing is a 25% tariff for all cars that are not made in the United States".</li>
<li>European Commission President Ursula von der Leyen said she deeply regrets the US tariff decision, and will continue to seek negotiated solutions while safeguarding the bloc’s economic interests.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Pakuwon Jati, Bharti Airtel, China Jinmao
US President Donald Trump has signed an executive order to impose 25% tariffs on imports of automobiles and auto parts from April 2 nd, saying that "what we're going to be doing is a 25% tariff for all cars that are not made in the United States".
European Commission President Ursula von der Leyen said she deeply regrets the US tariff decision, and will continue to seek negotiated solutions while safeguarding the bloc’s economic interests.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, Nickel Industries, Vedanta Resources, Bharti Airtel</li>
<li>In the US, JOLTS job openings increased slightly to 7.74 mn (7.60 mn e / 7.51 mn revised p) in January, with the job openings rate little changed m-o-m at 4.6%. Layoffs declined for a fourth straight month to the lowest level since June 2024.</li>
<li>Overall, the JOLTS report showed that the labour market was steady in January, albeit demand for labour could soften in the months ahead.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, Nickel Industries, Vedanta Resources, Bharti Airtel
In the US, JOLTS job openings increased slightly to 7.74 mn (7.60 mn e / 7.51 mn revised p) in January, with the job openings rate little changed m-o-m at 4.6%. Layoffs declined for a fourth straight month to the lowest level since June 2024.
Overall, the JOLTS report showed that the labour market was steady in January, albeit demand for labour could soften in the months ahead.


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

US treasury movements were muted yesterday, with the curve flattening marginally ahead of today’s CPI data release. The yield on the 2Y UST rose 2...

Lucror Analytics

Lucror Analytics - Morning Views Asia

US treasuries fell and yields rose yesterday, amid renewed US-China trade tensions and a large supply of corporate issuances.

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Meituan, China Jinmao, Lenovo, AAC...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Pakuwon Jati, Bharti Airtel, China Jinmao

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, Nickel Industries, Vedanta...

Lucror Analytics

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)