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: Seazen Group</li>
<li>Long-end treasury yields rose on Friday, amid US President Donald Trump’s threats of a 35% tariff on Canadian goods and a 15-20% baseline tariff on other countries without deals. The UST curve bear steepened, with the yield on the 2Y UST rising 1 bp to 3.88%, while that on the 10Y UST was up 6 bps at 4.41%. Equities retreated from all-time highs, with the S&amp;P 500 and Nasdaq down 0.3% and 0.2%, at 6,260 and 20,586, respectively.</li>
<li>Mr Trump has shared tariff-letter screenshots on Truth Social to announce a 30% tariff on goods from the EU and Mexico, which are separate from all sectoral tariffs. The letters warn that “goods transhipped to evade a higher tariff will be subject to that higher tariff”, and “if for any reason you decide to raise your tariffs and retaliate, then, whatever the number you choose to raise them by, will be added onto the 30% that we charge”.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group
Long-end treasury yields rose on Friday, amid US President Donald Trump’s threats of a 35% tariff on Canadian goods and a 15-20% baseline tariff on other countries without deals. The UST curve bear steepened, with the yield on the 2Y UST rising 1 bp to 3.88%, while that on the 10Y UST was up 6 bps at 4.41%. Equities retreated from all-time highs, with the S&amp;P 500 and Nasdaq down 0.3% and 0.2%, at 6,260 and 20,586, respectively.
Mr Trump has shared tariff-letter screenshots on Truth Social to announce a 30% tariff on goods from the EU and Mexico, which are separate from all sectoral tariffs. The letters warn that “goods transhipped to evade a higher tariff will be subject to that higher tariff”, and “if for any reason you decide to raise your tariffs and retaliate, then, whatever the number you choose to raise them by, will be added onto the 30% that we charge”.


<ul>
<li>US treasuries climbed yesterday, on the back of soft PPI data as well as a solid auction of 30Y notes.</li>
<li>The UST curve bull flattened, with the yield on the 2Y UST declining 4 bps to 3.91%, while that on the 10Y UST was down 6 bps at 4.36%.</li>
<li>Equities rose, with the S&amp;P 500 and Nasdaq up 0.4% and 0.2%, respectively. </li>
</ul>


US treasuries climbed yesterday, on the back of soft PPI data as well as a solid auction of 30Y notes.
The UST curve bull flattened, with the yield on the 2Y UST declining 4 bps to 3.91%, while that on the 10Y UST was down 6 bps at 4.36%.
Equities rose, with the S&amp;P 500 and Nasdaq up 0.4% and 0.2%, respectively. 


<ul>
<li>Seazen Group (formerly known as Future Land) is among the most established property developers in China's Yangtze River Delta region, targeting first-time home buyers and upgraders.</li>
<li>The company has broad exposure in many Chinese cities, particularly lower-tier ones.</li>
<li>In addition, it has a portfolio of more than 150 investment properties, including the Wuyue-branded shopping malls.</li>
</ul>


Seazen Group (formerly known as Future Land) is among the most established property developers in China's Yangtze River Delta region, targeting first-time home buyers and upgraders.
The company has broad exposure in many Chinese cities, particularly lower-tier ones.
In addition, it has a portfolio of more than 150 investment properties, including the Wuyue-branded shopping malls.


Seazen Group - ESG Report - Lucror Analytics

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Adani Ports, Cikarang Listrindo, Vedanta Resources</li>
<li>In the US, the February CPI came in below estimates at 0.2% m-o-m (0.3% e / 0.5% p) and 2.8% y-o-y (2.9% e / 3.0% p). Core CPI (excluding food and energy) eased to 0.2% m-o-m (0.3% e / 0.4% p) and 3.1% y-o-y (3.2% e / 3.3% p).</li>
<li>US Treasuries ended the day lower, as an initial rally following the lower-than-expected CPI inflation numbers was quickly reversed amid concerns over the escalating trade war and its impact on future inflation.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Adani Ports, Cikarang Listrindo, Vedanta Resources
In the US, the February CPI came in below estimates at 0.2% m-o-m (0.3% e / 0.5% p) and 2.8% y-o-y (2.9% e / 3.0% p). Core CPI (excluding food and energy) eased to 0.2% m-o-m (0.3% e / 0.4% p) and 3.1% y-o-y (3.2% e / 3.3% p).
US Treasuries ended the day lower, as an initial rally following the lower-than-expected CPI inflation numbers was quickly reversed amid concerns over the escalating trade war and its impact on future inflation.


<p>Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.</p><ul><li><a href='#lucror-entity-22202'>Vedanta Resources</a></li></ul>

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.Vedanta Resources

China

Seazen is a property developer in the Yangtze River Delta, focusing primarily on the development of residential properties and mixed-use complex projects.

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Seazen (Formerly Future Land) (1030 HK)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group Long-end treasury yields rose on...

Lucror Analytics

Lucror Analytics - Morning Views Asia

The UST curve bull flattened, with the yield on the 2Y UST declining 4 bps to 3.91%, while that on the 10Y UST was down 6 bps at 4.36%.

Lucror Analytics

Seazen Group - ESG Report - Lucror Analytics

Seazen Group (formerly known as Future Land) is among the most established property developers in China's Yangtze River Delta region, targeting...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Adani Ports, Cikarang Listrindo,...

Lucror Analytics

Morning Views Asia: Vedanta Resources

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

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Market Cap (USDm)

P/E

Dividend (Yield)