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, Vedanta Resources</li>
<li>The UST curve twisted slightly steeper yesterday, following dovish comments from a few Fed officials that kept rate-cut expectations intact. The yield on the 2Y UST fell 2 bps to 3.48%, while the yield on the 10Y UST was unchanged at 4.03%.</li>
<li>Equities retreated, owing to fresh US-China trade tensions. The S&amp;P 500 fell 0.2% to 6,644, while the Nasdaq declined 0.8% to 22,522.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Vedanta Resources
The UST curve twisted slightly steeper yesterday, following dovish comments from a few Fed officials that kept rate-cut expectations intact. The yield on the 2Y UST fell 2 bps to 3.48%, while the yield on the 10Y UST was unchanged at 4.03%.
Equities retreated, owing to fresh US-China trade tensions. The S&amp;P 500 fell 0.2% to 6,644, while the Nasdaq declined 0.8% to 22,522.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Vista Land &amp; Lifescapes, Rakuten Group, Vedanta Resources, Tata Steel</li>
<li>UST yields rose on Friday, led by the front end. There was a lack of catalysts, due to non-publication of the September nonfarm payrolls amid the government shutdown, albeit private surveys showed weakening US services data. Yields on the 2Y and 10Y USTs rose 4 bps each to 3.58% and 4.12%, respectively. Equities were mixed, with the S&amp;P 500 stable at 6,716, while the Nasdaq fell 0.3% to 22,781.</li>
<li>Japan’s ruling Liberal Democratic Party has elected former economic security minister Sanae Takaichi as its new leader, making the 64-year-old likely to become the country’s first female prime minister. Ms Takaichi replaces Shigeru Ishiba, who resigned as prime minister last month after the party suffered two election blows (including losing its majority in the Lower House).</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Vista Land &amp; Lifescapes, Rakuten Group, Vedanta Resources, Tata Steel
UST yields rose on Friday, led by the front end. There was a lack of catalysts, due to non-publication of the September nonfarm payrolls amid the government shutdown, albeit private surveys showed weakening US services data. Yields on the 2Y and 10Y USTs rose 4 bps each to 3.58% and 4.12%, respectively. Equities were mixed, with the S&amp;P 500 stable at 6,716, while the Nasdaq fell 0.3% to 22,781.
Japan’s ruling Liberal Democratic Party has elected former economic security minister Sanae Takaichi as its new leader, making the 64-year-old likely to become the country’s first female prime minister. Ms Takaichi replaces Shigeru Ishiba, who resigned as prime minister last month after the party suffered two election blows (including losing its majority in the Lower House).


Yuexiu Real Estate Investment Trust / Credit

Yuexiu Real Estate Investment Trust (405 HK)

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Yuexiu REIT, Vedanta Resources, Nickel Industries</li>
<li>The UST curve twisted slightly steeper yesterday, with the front-end continuing to be supported by the prospect of Fed rate cuts against the backdrop of a looming US government shutdown.</li>
<li>The yield on the 2Y UST fell 1 bp to 3.61%, while that on the 10Y UST was up 1 bp at 4.15%. Equities climbed for the third day, with the S&amp;P 500 and Nasdaq up 0.4% and 0.3%, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Yuexiu REIT, Vedanta Resources, Nickel Industries
The UST curve twisted slightly steeper yesterday, with the front-end continuing to be supported by the prospect of Fed rate cuts against the backdrop of a looming US government shutdown.
The yield on the 2Y UST fell 1 bp to 3.61%, while that on the 10Y UST was up 1 bp at 4.15%. Equities climbed for the third day, with the S&amp;P 500 and Nasdaq up 0.4% and 0.3%, respectively.


Trung Nguyen

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Tata Motors, Vedanta Resources</li>
<li>UST yields declined yesterday, led by the long end, on potential haven demand amid concerns over a looming US government shutdown. The UST curve bull-flattened, with the yield on the 2Y UST dropping 2 bps to 3.62%, while the yield on the 10Y UST fell 4 bps to 4.14%.</li>
<li>Equities climbed for the second day, with the S&amp;P 500 and Nasdaq up 0.3% and 0.5%, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Tata Motors, Vedanta Resources
UST yields declined yesterday, led by the long end, on potential haven demand amid concerns over a looming US government shutdown. The UST curve bull-flattened, with the yield on the 2Y UST dropping 2 bps to 3.62%, while the yield on the 10Y UST fell 4 bps to 4.14%.
Equities climbed for the second day, with the S&amp;P 500 and Nasdaq up 0.3% and 0.5%, respectively.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Yuexiu REIT, Vedanta Resources</li>
<li>UST yields declined for a fourth straight day yesterday, in a continuation of the trend following the releases of weak JOLTS and nonfarm payroll data last week. The UST curve bull-flattened for a second day. The yield on the 2Y UST declined 2 bps to 3.49%, while the yield on the 10Y UST fell 4 bps to 4.04%. Equities climbed, with the S&amp;P 500 and Nasdaq up 0.2% and 0.5%, respectively.</li>
<li>In the US, the New York Fed one-year inflation expectations rose to 3.20% (3.09% p).</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Yuexiu REIT, Vedanta Resources
UST yields declined for a fourth straight day yesterday, in a continuation of the trend following the releases of weak JOLTS and nonfarm payroll data last week. The UST curve bull-flattened for a second day. The yield on the 2Y UST declined 2 bps to 3.49%, while the yield on the 10Y UST fell 4 bps to 4.04%. Equities climbed, with the S&amp;P 500 and Nasdaq up 0.2% and 0.5%, respectively.
In the US, the New York Fed one-year inflation expectations rose to 3.20% (3.09% p).


United Kingdom

Vedanta Resources is a diversified natural resources conglomerate specializing in metals and mining. The company's primary products include zinc, lead, silver, oil and gas, iron ore, steel, aluminium, and power. Headquartered in London, United Kingdom, Vedanta Resources was founded in 1976.

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Vedanta Resources (VED LN)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Vedanta Resources

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Vista Land & Lifescapes, 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: Yuexiu REIT, Vedanta Resources, Nickel Industries

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, Vedanta Resources

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Yuexiu REIT, Vedanta Resources

Lucror Analytics

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