Independent Asian Credit Research, Bondcritic

Warut Promboon

Independent Asian Credit Research

Asian Fixed Income/Frontier Market Research

Bondcritic

Bondcritic, established in 2009, is designed to be an independent credit research voice that helps investors gain insights and unbiased analyses on Asian fixed income market. Our mission is to discover deep-value Asian high-yield and distressed bonds with a bottom-up approach, together with the help of our proprietary ESG (Environmental, Social Development, and Governance) model. At the same time, we focus on bringing investment cases of unrated and unloved issuers to the general public.

Debt Capital Markets

US Treasury (10 Yr Generic) / Debt Capital Markets

We believe the trade war improvement is temporary and we see this as a selling opportunity for cyclical credits in general. The trade war will make sure we have slowing growth which is translated into low rates. Low rates and low growth mean money inflow into the bond market (from the equity market) which we believe will favour high yield rather than high-grade bonds. However, slow growth could also mean rising defaults. As a result, we prefer to remain within "BB-" to "BBB-" sector and avoid lower credit quality part of the credit curve. Credit research is key and will create alpha in this environment, in our view.

We believe the trade war improvement is temporary and we see this as a selling opportunity for cyclical credits in general. The trade war will make sure we have slowing growth which is translated into low rates. Low rates and low growth mean money inflow into the bond market (from the equity market) which we believe will favour high yield rather than high-grade bonds. However, slow growth could also mean rising defaults. As a result, we prefer to remain within "BB-" to "BBB-" sector and avoid lower credit quality part of the credit curve. Credit research is key and will create alpha in this environment, in our view. 

Bondcritic Market Monitor (18-Nov-19): Credit Homework, Slowing China, & Volatility

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

US Treasury (10 Yr Generic) / Technical Analysis

<a href="https://www.smartkarma.com/entities/united-states-treasury" target="_blank" rel="noopener" data-smartkarma-citation="entities:22878:1">US Treasury (10 Yr Generic) (T GOVT)</a> backing off of 1.94% resistance represents an important yield threshold but it is the 5yr yield that is the lead driver and denotes a more important line in the sand resistance that will directly shape risk, defensives, EM's and financials.This 5yr yield chart from November 11 illustrates how pivotal the 1.80% resistance is and was rejected last week. A move above 1.80% would spur higher yield, while continued weakness would have a direct impact on a favored flat corrective cycle that would lead a fresh downside assault. Above 1.80% would target secondary resistance.The current rejection favors a weaker yield with brewing evidence in MACD trendline resistance, rising wedge, RSI bear divergence and a more probable counter trend bounce count (a-b-c).5yr 1.80% is a macro inflection level.

US Treasury (10 Yr Generic) (T GOVT) backing off of 1.94% resistance represents an important yield threshold but it is the 5yr yield that is the lead driver and denotes a more important line in the sand resistance that will directly shape risk, defensives, EM's and financials.This 5yr yield chart from November 11 illustrates how pivotal the 1.80% resistance is and was rejected last week. A move above 1.80% would spur higher yield, while continued weakness would have a direct impact on a favored flat corrective cycle that would lead a fresh downside assault. Above 1.80% would target secondary resistance.The current rejection favors a weaker yield with brewing evidence in MACD trendline resistance, rising wedge, RSI bear divergence and a more probable counter trend bounce count (a-b-c).5yr 1.80% is a macro inflection level.

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

In this publication we outline our U.S. equity strategy, and provide a detailed analysis and actionable ideas within each of our 12 Sectors. The document contains links to each Sector, as well as our comments and important technical levels for major commodities, interest rates and world markets.

In this publication we outline our U.S. equity strategy, and provide a detailed analysis and actionable ideas within each of our 12 Sectors. The document contains links to each Sector, as well as our comments and important technical levels for major commodities, interest rates and world markets.

U.S. Equity Strategy: Up and to the Right

Encouraging developments continue to pour in. Over the past week we have seen dramatic improvements that could be setting the stage for a broad-based advance. We highlight these improvements in this report, along with what we would like to see in order to have confidence in labeling this a bull market.  In today’s report we also highlight attractive Groups and stocks within Energy, Financials, Manufacturing, and Technology: Refining, Banks, Super-Regional, Industrial, Diversified, Large-Cap, and Data Storage Solutions &amp; Devices, Large-Cap.

Encouraging developments continue to pour in. Over the past week we have seen dramatic improvements that could be setting the stage for a broad-based advance. We highlight these improvements in this report, along with what we would like to see in order to have confidence in labeling this a bull market.  In today’s report we also highlight attractive Groups and stocks within Energy, Financials, Manufacturing, and Technology: Refining, Banks, Super-Regional, Industrial, Diversified, Large-Cap, and Data Storage Solutions &amp; Devices, Large-Cap.

U.S. Equity Strategy: Dramatic Improvement

Credit

In our bi-weekly newsletter, slow growth should translate into low rates. Low rates and low growth mean money inflow into the bond market (from the equity market) which we believe will favor high-yield rather than high-grade bonds. However, slow growth will also mean rising defaults. As a result, we prefer to remain within "BB-" to "BBB-" sector and avoid lower credit quality part of the credit curve.

In our bi-weekly newsletter, slow growth should translate into low rates. Low rates and low growth mean money inflow into the bond market (from the equity market) which we believe will favor high-yield rather than high-grade bonds. However, slow growth will also mean rising defaults. As a result, we prefer to remain within "BB-" to "BBB-" sector and avoid lower credit quality part of the credit curve.

Bondcritic Market Monitor(28-Oct): Navigate Low Rates and Low Growth with Caution

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US Treasury (10 Yr Generic) (GT10 GOVT)

Bondcritic Market Monitor (18-Nov-19): Credit Homework, Slowing China, & Volatility

We believe the trade war improvement is temporary and we see this as a selling opportunity for cyclical credits in general. The trade war will make...

Bondcritic

US 5yr Macro Pivot Level to Define Risk

US Treasury (10 Yr Generic) (T GOVT) backing off of 1.94% resistance represents an important yield threshold but it is the 5yr yield that is the...

Thomas Schroeder

U.S. Equity Strategy: Up and to the Right

In this publication we outline our U.S. equity strategy, and provide a detailed analysis and actionable ideas within each of our 12 Sectors. The...

Vermilion Research

U.S. Equity Strategy: Dramatic Improvement

Encouraging developments continue to pour in. Over the past week we have seen dramatic improvements that could be setting the stage for a...

Vermilion Research

Bondcritic Market Monitor(28-Oct): Navigate Low Rates and Low Growth with Caution

In our bi-weekly newsletter, slow growth should translate into low rates. Low rates and low growth mean money inflow into the bond market (from the...

Bondcritic

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)