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>UST yields rose on Friday, in a continuation of Thursday’s increase following the weak 30Y notes auction.</li>
<li>In addition, there were no macro catalysts, ahead of Tuesday’s CPI data release (which may alter market expectations for the rate cuts currently priced in).</li>
<li>The yield on the 2Y UST rose 3 bps to 3.76%, while that on the 10Y UST was up 3 bps at 4.28%. </li>
</ul>


UST yields rose on Friday, in a continuation of Thursday’s increase following the weak 30Y notes auction.
In addition, there were no macro catalysts, ahead of Tuesday’s CPI data release (which may alter market expectations for the rate cuts currently priced in).
The yield on the 2Y UST rose 3 bps to 3.76%, while that on the 10Y UST was up 3 bps at 4.28%. 


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Nissan Motor, Continuum Green</li>
<li>UST yields rose slightly yesterday, with yields up for a fifth straight day. There were no apparent catalysts, albeit the move was in line with a broader sell-off in European and Japanese government bonds.</li>
<li>The yield on the 2Y UST was unchanged at 3.89%, while that on the 10Y UST advanced 2 bps to 4.40%. Equities were little changed near all-time highs, amid renewed tariff concerns. US President Donald Trump has told reporters at a White House meeting that he plans to announce a 50% tariff on copper imports.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Nissan Motor, Continuum Green
UST yields rose slightly yesterday, with yields up for a fifth straight day. There were no apparent catalysts, albeit the move was in line with a broader sell-off in European and Japanese government bonds.
The yield on the 2Y UST was unchanged at 3.89%, while that on the 10Y UST advanced 2 bps to 4.40%. Equities were little changed near all-time highs, amid renewed tariff concerns. US President Donald Trump has told reporters at a White House meeting that he plans to announce a 50% tariff on copper imports.


<ul>
<li>US Treasury yields rose by 9-13 bps across the curve on Friday, as a stronger than projected nonfarm payrolls report drove down market expectations for Fed easing.</li>
<li>The yield on the 2Y and 10Y UST increased 11 bps each to 4.04% and 4.51%, respectively.</li>
<li>Equities rallied, as the robust jobs report allayed concerns over an imminent economic slowdown. The S&amp;P 500 rose 1.0% to 6,000, while the Nasdaq jumped 1.2% to 19,530.</li>
</ul>


US Treasury yields rose by 9-13 bps across the curve on Friday, as a stronger than projected nonfarm payrolls report drove down market expectations for Fed easing.
The yield on the 2Y and 10Y UST increased 11 bps each to 4.04% and 4.51%, respectively.
Equities rallied, as the robust jobs report allayed concerns over an imminent economic slowdown. The S&amp;P 500 rose 1.0% to 6,000, while the Nasdaq jumped 1.2% to 19,530.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Longfor Group, Sunny Optical, Greentown China</li>
<li>
<p>In the US, the March CPI came in below estimates at negative 0.1% m-o-m (0.1% e / 0.2% p) and 2.4% y-o-y (2.5% e / 2.8% p). This was driven by lower energy costs, as well as a decline in discretionary spending such as airfares, used vehicles and hotels. Core CPI (excluding food and energy) slowed to 0.1% m-o-m (0.3% e / 0.2% p) and 2.8% y-o-y (3.0% e / 3.1% p).</p>
</li>
<li>
<p>The White House has clarified that US President Donald Trump's total tariffs on Chinese imports stands at 145%, comprising a 125% reciprocal tariff rate on top of the existing 20% duty imposed earlier in February and March.</p>
</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Longfor Group, Sunny Optical, Greentown China

In the US, the March CPI came in below estimates at negative 0.1% m-o-m (0.1% e / 0.2% p) and 2.4% y-o-y (2.5% e / 2.8% p). This was driven by lower energy costs, as well as a decline in discretionary spending such as airfares, used vehicles and hotels. Core CPI (excluding food and energy) slowed to 0.1% m-o-m (0.3% e / 0.2% p) and 2.8% y-o-y (3.0% e / 3.1% p).


The White House has clarified that US President Donald Trump's total tariffs on Chinese imports stands at 145%, comprising a 125% reciprocal tariff rate on top of the existing 20% duty imposed earlier in February and March.



<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China</li>
<li>In the US, the NFIB small business optimism index declined to 97.4 (99.0 e / 100.7 p), just below the 51-year average of 98.</li>
<li>US President Donald Trump’s tariffs are set to take effect from midnight ET today, according to the US Customs and Border Protection.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China
In the US, the NFIB small business optimism index declined to 97.4 (99.0 e / 100.7 p), just below the 51-year average of 98.
US President Donald Trump’s tariffs are set to take effect from midnight ET today, according to the US Customs and Border Protection.


China

Greentown China Holdings Ltd. is a leading property developer and integrated living service provider in China, specializing in premium residential properties, hotel operations, property investment, and project management. The company also offers design, architectural decoration, and construction material sales. It was founded in January 1995 and is headquartered in Hangzhou, Zhejiang, China.

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Greentown China (3900 HK)

Lucror Analytics - Morning Views Asia

UST yields rose on Friday, in a continuation of Thursday’s increase following the weak 30Y notes auction. In addition, there were no macro...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Nissan Motor, Continuum Green

Lucror Analytics

Lucror Analytics - Morning Views Asia

US Treasury yields rose by 9-13 bps across the curve on Friday, as a stronger than projected nonfarm payrolls report drove down market expectations...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Longfor Group, Sunny Optical, Greentown China

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China In the US, the NFIB small...

Lucror Analytics

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