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: Greentown China, Fosun International</li>
<li>UST yields declined yesterday, led by the front end and belly, alongside falling oil prices on hopes of a de-escalation in the Middle East conflict. The yield on the 2Y and 10Y UST dropped 3 bps each to 3.80% and 4.32%, respectively.</li>
<li>Equities jumped on speculation that the US and Iran may be seeking ways to end the conflict. The S&amp;P 500 and Nasdaq climbed 2.9% and 3.8% to 6,529 and 21,591, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Fosun International
UST yields declined yesterday, led by the front end and belly, alongside falling oil prices on hopes of a de-escalation in the Middle East conflict. The yield on the 2Y and 10Y UST dropped 3 bps each to 3.80% and 4.32%, respectively.
Equities jumped on speculation that the US and Iran may be seeking ways to end the conflict. The S&amp;P 500 and Nasdaq climbed 2.9% and 3.8% to 6,529 and 21,591, respectively.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Tata Motors</li>
<li>UST yields rose 5-8 bps across the curve yesterday, following a soft auction of 3Y notes and Amazon Inc’s USD 37 bn jumbo bond issuance. The yield on the 2Y UST was up 5 bps at 3.59%, while the yield on the 10Y UST jumped 6 bps to 4.16%. Equities ended mixed. The S&amp;P 500 fell 0.2% to 6,781, while the Nasdaq was flat at 22,697.</li>
<li>India has eased restrictions on foreign investments from China, local media reported yesterday. The Indian government tightened scrutiny of investments from Chinese companies in 2020, as relations between the two countries soured following skirmishes between their militaries along the Himalayan border. That said, New Delhi has been reviving relations with Beijing since last year, amid US tariffs.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Tata Motors
UST yields rose 5-8 bps across the curve yesterday, following a soft auction of 3Y notes and Amazon Inc’s USD 37 bn jumbo bond issuance. The yield on the 2Y UST was up 5 bps at 3.59%, while the yield on the 10Y UST jumped 6 bps to 4.16%. Equities ended mixed. The S&amp;P 500 fell 0.2% to 6,781, while the Nasdaq was flat at 22,697.
India has eased restrictions on foreign investments from China, local media reported yesterday. The Indian government tightened scrutiny of investments from Chinese companies in 2020, as relations between the two countries soured following skirmishes between their militaries along the Himalayan border. That said, New Delhi has been reviving relations with Beijing since last year, amid US tariffs.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China</li>
<li>UST yields climbed for a fourth straight day, as the sustained increase in oil prices dented the outlook for Fed rate cuts. Fed-dated OIS are now pricing in only 39 bps of rate cuts in 2026 (vs. 61 bps as of end-February). The yield on the 2Y UST rose 3 bps to 3.58%, while the yield on the 10Y UST was up 4 bps at 4.14%.</li>
<li>Equities retreated, led by semiconductor stocks, on reports that the US government is considering wide-ranging export restrictions for AI chips. The S&amp;P 500 and Nasdaq declined 0.6% and 0.3%, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China
UST yields climbed for a fourth straight day, as the sustained increase in oil prices dented the outlook for Fed rate cuts. Fed-dated OIS are now pricing in only 39 bps of rate cuts in 2026 (vs. 61 bps as of end-February). The yield on the 2Y UST rose 3 bps to 3.58%, while the yield on the 10Y UST was up 4 bps at 4.14%.
Equities retreated, led by semiconductor stocks, on reports that the US government is considering wide-ranging export restrictions for AI chips. The S&amp;P 500 and Nasdaq declined 0.6% and 0.3%, respectively.


Founder-CEO & Chief Analyst, Real Estate Foresight

Robert Ciemniak

Founder-CEO & Chief Analyst

Real Estate Foresight

Since 2012, REF has been helping investors with market research, project due diligence, and strategy development. This has ranged from detailed assessments and estimates on distressed developers' project portfolios to market due diligence on specific projects to macro-level questions linked to demand for commodities. The unique combination of the housing markets and developer data from data partner China Index Academy in Beijing, primary research, and technology-powered alternative data collection from public sources result in a valuable content set used in REF analytics and reports.

Predictive Analytics for China Property

Thematic (Sector/Industry)

<ul>
<li>A weekly curated selection of Chinese news articles and company announcements focused on developers in distress</li>
<li>We look for their deals, updates, specific project progress news ('local signals'), as well as relevant local research commentaries about the market</li>
<li>We do not verify the underlying data or provide any opinion, we only select and summarize the information; see direct links to sources</li>
</ul>


A weekly curated selection of Chinese news articles and company announcements focused on developers in distress
We look for their deals, updates, specific project progress news ('local signals'), as well as relevant local research commentaries about the market
We do not verify the underlying data or provide any opinion, we only select and summarize the information; see direct links to sources


China Property Developers In Distress - Weekly News & Announcements Tracker | 11-17 August 2023

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

Agricultural Bank of China / Event-Driven

<ul>
<li>Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,200+ Insights published over the past two weeks on Smartkarma</li>
<li>In this cut, we explore A-H share trading dynamics, consider copper market dynamics and plays, and China's bottoming/stabilizing real estate market</li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next</li>
</ul>


Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,200+ Insights published over the past two weeks on Smartkarma
In this cut, we explore A-H share trading dynamics, consider copper market dynamics and plays, and China's bottoming/stabilizing real estate market
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next


Curator's Cut: Arbs Go A-H, Copper Plays & China's Property Pulse

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.

Price Gauge
52-week Range	0.00 - 0.00
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Greentown China (3900 HK)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Fosun International

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, Tata Motors

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 UST yields climbed for a...

Lucror Analytics

China Property Developers In Distress - Weekly News & Announcements Tracker | 11-17 August 2023

A weekly summary of a curated set of Chinese news articles/posts and company announcements focused on developers in distress.

Robert Ciemniak

Curator's Cut: Arbs Go A-H, Copper Plays & China's Property Pulse

In this cut, we explore A-H share trading dynamics, consider copper market dynamics and plays, and China's bottoming/stabilizing real estate market.

Pranav Rao

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)