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, Nissan Motor, Rakuten Group</li>
<li>Front-end UST yields rose yesterday, albeit the long end was stable on the back of a good auction of 30Y notes. The UST curve bear flattened, with the yield on the 2Y UST rising 3 bps to 3.87%, while that on the 10Y UST was up 2 bps at 4.35%.</li>
<li>Equities climbed, with the S&amp;P 500 and Nasdaq advancing 0.3% and 0.1%, respectively, to fresh record highs.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, Nissan Motor, Rakuten Group
Front-end UST yields rose yesterday, albeit the long end was stable on the back of a good auction of 30Y notes. The UST curve bear flattened, with the yield on the 2Y UST rising 3 bps to 3.87%, while that on the 10Y UST was up 2 bps at 4.35%.
Equities climbed, with the S&amp;P 500 and Nasdaq advancing 0.3% and 0.1%, respectively, to fresh record highs.


<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.


Trung Nguyen

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Tata Motors, Nissan Motor</li>
<li>UST yields rose yesterday, ahead of an auction cycle beginning today. The UST curve bear steepened, with the yield on the 2Y UST rising 1 bp to 3.90%, while that on the 10Y UST climbed 3 bps to 4.38%.</li>
<li>Equities retreated from record high levels after US President Donald Trump unveiled his tariff plans for countries that have yet to secure a trade deal with Washington. The S&amp;P 500 fell 0.8% to 6,230, while the Nasdaq was down 0.9% at 20,413.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Tata Motors, Nissan Motor
UST yields rose yesterday, ahead of an auction cycle beginning today. The UST curve bear steepened, with the yield on the 2Y UST rising 1 bp to 3.90%, while that on the 10Y UST climbed 3 bps to 4.38%.
Equities retreated from record high levels after US President Donald Trump unveiled his tariff plans for countries that have yet to secure a trade deal with Washington. The S&amp;P 500 fell 0.8% to 6,230, while the Nasdaq was down 0.9% at 20,413.


Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Trump extending the implementation deadline leaves plenty of wiggle room for further negotiation.</li>
<li>Renesas should be helped by the Wolf's new restructuring hire and TPX FFW buying this month.</li>
<li>Samsung numbers weak with failed NVDA accreditation weighing on outlook.</li>
</ul>


Trump extending the implementation deadline leaves plenty of wiggle room for further negotiation.
Renesas should be helped by the Wolf's new restructuring hire and TPX FFW buying this month.
Samsung numbers weak with failed NVDA accreditation weighing on outlook.


Japan Morning Connection: Trumps Latest 25% Tariff Salvo on JP Unlikely to Be Final

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>A group of shareholders aims to raise around US$380m via selling around 4% of <a href="https://www.smartkarma.com/entities/isuzu-motors-ltd" target="_blank" data-smartkarma-citation="entities:14726:1" rel="noopener">Isuzu Motors (7202 JP).</a>
</li>
<li>Being another cross-shareholding unwind in Japan, it shouldn’t carry much negative connotations, in our view.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>


A group of shareholders aims to raise around US$380m via selling around 4% of Isuzu Motors (7202 JP).

Being another cross-shareholding unwind in Japan, it shouldn’t carry much negative connotations, in our view.
In this note, we will talk about the placement and run the deal through our ECM framework.


Isuzu Motors Placement - Relatively Small Deal Along with Buyback

Japan

NISSAN MOTOR CO., LTD. manufactures and distributes automobiles and related parts. It also provides financing services. Nissan delivers a comprehensive range of products under various brands. The company manufactures in Japan, the United States, Mexico, the United Kingdom and many other countries.

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Nissan Motor (ADR) (NSANY US)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, Nissan Motor, Rakuten Group

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

In today's Morning Views publication we comment on developments of the following high yield issuers: Tata Motors, Nissan Motor

Lucror Analytics

Japan Morning Connection: Trumps Latest 25% Tariff Salvo on JP Unlikely to Be Final

Risk off for Tech and AI in the US. Fallout for Tesla after Musk announced forming a new political party. Samsung struggles with weak numbers due...

Andrew Jackson

Isuzu Motors Placement - Relatively Small Deal Along with Buyback

A group of shareholders aims to raise around US$380m via selling around 4% of Isuzu Motors (7202 JP). In this note, we talk about the deal dynamics.

Sumeet Singh

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)