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: MGM China</li>
<li>UST yields jumped yesterday, led by the front end, as the market interpreted Fed Chairman Jerome Powell’s remarks as hawkish and further reduced Fed rate-cut expectations. The UST curve bear-flattened, with the yields on the 2Y and 10Y USTs jumping 10 bps and 7 bps to 3.78% and 4.27%, respectively.</li>
<li>Equities slumped, alongside a spike in oil prices following Iran’s retaliatory attacks on a Qatari gas facility. The S&amp;P 500 and Nasdaq fell 1.4% and 1.5%, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: MGM China
UST yields jumped yesterday, led by the front end, as the market interpreted Fed Chairman Jerome Powell’s remarks as hawkish and further reduced Fed rate-cut expectations. The UST curve bear-flattened, with the yields on the 2Y and 10Y USTs jumping 10 bps and 7 bps to 3.78% and 4.27%, respectively.
Equities slumped, alongside a spike in oil prices following Iran’s retaliatory attacks on a Qatari gas facility. The S&amp;P 500 and Nasdaq fell 1.4% and 1.5%, respectively.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: MGM China, Yuexiu REIT, Sands China, Pertamina (Persero), Bharti Airtel, Indofood CBP, Biocon Biologics, Tata Steel</li>
<li>UST yields rose on Friday, led by the front-end, following the strong University of Michigan consumer sentiment data. The UST curve bear-flattened, partly unwinding Thursday's sharp curve-steepening move.</li>
<li>The yield on the 2Y UST rose 5 bps to 3.50%, while the yield on the 10Y UST was up 2 bps at 4.21%. Equities rebounded, with the S&amp;P 500 and Nasdaq up 2.0% and 2.2%, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: MGM China, Yuexiu REIT, Sands China, Pertamina (Persero), Bharti Airtel, Indofood CBP, Biocon Biologics, Tata Steel
UST yields rose on Friday, led by the front-end, following the strong University of Michigan consumer sentiment data. The UST curve bear-flattened, partly unwinding Thursday's sharp curve-steepening move.
The yield on the 2Y UST rose 5 bps to 3.50%, while the yield on the 10Y UST was up 2 bps at 4.21%. Equities rebounded, with the S&amp;P 500 and Nasdaq up 2.0% and 2.2%, respectively.


Co-Founder & CEO, Newmark Risk

Nicholas Pezolano

Co-Founder & CEO

Option analytics for institutional investors

Newmark Risk

Fin-tech company focused on providing option derived analytics for institutional investors.

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Knowledge is something that was meant to be shared and we provide insights to our clients and to the community via posting about our research findings.

Equity Derivatives

<ul>
<li>Top Hong Kong Stock Exchange listed covered call candidates for the month of January.</li>
<li>The top 10 provide an average ~6.7% premium with a potential ~7.8% upside P&amp;L if exercised.</li>
<li>Investors with a neutral 1-month view on the underlying can seek to generate income.</li>
</ul>


Top Hong Kong Stock Exchange listed covered call candidates for the month of January.
The top 10 provide an average ~6.7% premium with a potential ~7.8% upside P&amp;L if exercised.
Investors with a neutral 1-month view on the underlying can seek to generate income.


Hong Kong January 2026 Monthly Covered Call Report

<ul>
<li>Front-end UST yields declined on Friday, unwinding part of the jump in yields following the FOMC rate decision on Wednesday.</li>
<li>The yield on the 2Y UST fell 4 bps to 3.57%, while the yield on the 10Y UST was down 2 bps at 4.08%. Equities climbed, supported by optimism over corporate earnings.</li>
<li>The S&amp;P 500 gained 0.3% to 6,840, while the Nasdaq rose 0.6% to 23,725. </li>
</ul>


Front-end UST yields declined on Friday, unwinding part of the jump in yields following the FOMC rate decision on Wednesday.
The yield on the 2Y UST fell 4 bps to 3.57%, while the yield on the 10Y UST was down 2 bps at 4.08%. Equities climbed, supported by optimism over corporate earnings.
The S&amp;P 500 gained 0.3% to 6,840, while the Nasdaq rose 0.6% to 23,725. 


Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Cross Asset Strategy

<ul>
<li>The Hong Kong market has seen a rebound in July, while North Asian markets declined sharply as the global AI/semiconductor sectors de-rated.</li>
<li>The financials sector has outperformed over the last 8 weeks, while the tech sector has shown increased strength and momentum.</li>
<li>
<a href="https://www.smartkarma.com/entities/mgm-china-holdings-limited" target="_blank" data-smartkarma-citation="entities:472:1" rel="noopener">MGM China (2282 HK)</a> share price rebounded over the last week before its August Q226 earnings announcement.  The company has increased its share of the mass-market gaming in Macau.
</li>
</ul>


The Hong Kong market has seen a rebound in July, while North Asian markets declined sharply as the global AI/semiconductor sectors de-rated.
The financials sector has outperformed over the last 8 weeks, while the tech sector has shown increased strength and momentum.

MGM China (2282 HK) share price rebounded over the last week before its August Q226 earnings announcement.  The company has increased its share of the mass-market gaming in Macau.



The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (July 2026)

Macau

MGM China Holdings Limited is an investment holding company that develops, owns, and operates gaming and lodging resorts in the Greater China region. The company operates casino games of chance, hotel, and resort facilities, and provides hotel management services, notably through its MGM Macau and MGM Cotai properties. It was incorporated in 2010 and is headquartered in Macau.

Price Gauge
52-week Range	0.00 - 0.00
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MGM China (2282 HK)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: MGM China UST yields jumped yesterday, led by...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: MGM China, Yuexiu REIT, Sands China, Pertamina...

Lucror Analytics

Hong Kong January 2026 Monthly Covered Call Report

Discover top covered call candidates on the Hong Kong Stock Exchange for January, offering a 6.7% premium and potential 7.8% upside, ideal for...

Nicholas Pezolano

Lucror Analytics - Morning Views Asia

The yield on the 2Y UST fell 4 bps to 3.57%, while the yield on the 10Y UST was down 2 bps at 4.08%. Equities climbed, supported by optimism over...

Lucror Analytics

The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (July 2026)

The Hong Kong market has seen a rebound in July, while North Asian markets declined sharply as the global AI/semiconductor sectors de-rated.

David Mudd

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: MGM China UST yields jumped yesterday, led by...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: MGM China, Yuexiu REIT, Sands China, Pertamina...

Lucror Analytics

Hong Kong January 2026 Monthly Covered Call Report

​Discover top covered call candidates on the Hong Kong Stock Exchange for January, offering a 6.7% premium and potential 7.8% upside, ideal for...

Nicholas Pezolano

Lucror Analytics - Morning Views Asia

The yield on the 2Y UST fell 4 bps to 3.57%, while the yield on the 10Y UST was down 2 bps at 4.08%. Equities climbed, supported by optimism over...

Lucror Analytics

The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (July 2026)

The Hong Kong market has seen a rebound in July, while North Asian markets declined sharply as the global AI/semiconductor sectors de-rated.

David Mudd

Discover top covered call candidates on the Hong Kong Stock Exchange for January, offering a 6.7% premium and potential 7.8% upside, ideal for...