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, SK Hynix, Tata Steel, Vedanta Resources</li>
<li>Short-end UST yields rose slightly yesterday, extending Wednesday’s post-Fed curve flattening trend. The yield on the 2Y UST rose 2 bps to 3.96%, while the yield on the 10Y UST was stable at 4.38%. Equities ended the day mixed.</li>
<li>The S&amp;P 500 erased a rally earlier in the day on renewed tariff concerns, declining 0.4% to 6,339. The Nasdaq closed flat at 21,122, after Microsoft and Meta Platforms reported solid results.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: MGM China, SK Hynix, Tata Steel, Vedanta Resources
Short-end UST yields rose slightly yesterday, extending Wednesday’s post-Fed curve flattening trend. The yield on the 2Y UST rose 2 bps to 3.96%, while the yield on the 10Y UST was stable at 4.38%. Equities ended the day mixed.
The S&amp;P 500 erased a rally earlier in the day on renewed tariff concerns, declining 0.4% to 6,339. The Nasdaq closed flat at 21,122, after Microsoft and Meta Platforms reported solid results.


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Adani Energy Solutions, Vedanta Resources, JSW Steel</li>
<li>UST yields declined on Friday, led by the front end, after Fed Governor Christopher Waller reiterated his case for a July rate cut and given lower-than-expected inflation projections in the University of Michigan survey.</li>
<li>The yield on the 2Y UST and 10Y UST fell 4 bps to 3.87% and 4.42%, respectively. Equities were steady at record high levels, with the S&amp;P 500 and Nasdaq flat at 6,297 and 20,896, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Adani Energy Solutions, Vedanta Resources, JSW Steel
UST yields declined on Friday, led by the front end, after Fed Governor Christopher Waller reiterated his case for a July rate cut and given lower-than-expected inflation projections in the University of Michigan survey.
The yield on the 2Y UST and 10Y UST fell 4 bps to 3.87% and 4.42%, respectively. Equities were steady at record high levels, with the S&amp;P 500 and Nasdaq flat at 6,297 and 20,896, respectively.


Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Forensic Accounting

<ul>
<li>A foreign short seller has released its short thesis note on Vedanta Group, labelling the group as a Ponzi scheme. </li>
<li>The report’s central assertion is ‘to repay the debt of holding company Vedanta Resources, Vedanta Limited paid aggressive dividends leading to depletion of financial &amp; operational strength of Vedanta</li>
<li>Dividend &amp; delisting along with share purchases funded through debt, unreconciled interest, and depleting asset base, stagnancy in expansion plans.</li>
</ul>


A foreign short seller has released its short thesis note on Vedanta Group, labelling the group as a Ponzi scheme. 
The report’s central assertion is ‘to repay the debt of holding company Vedanta Resources, Vedanta Limited paid aggressive dividends leading to depletion of financial &amp; operational strength of Vedanta
Dividend &amp; delisting along with share purchases funded through debt, unreconciled interest, and depleting asset base, stagnancy in expansion plans.


Is Vedanta Running a Ponzi Scheme? Deep Dive into Findings of Shortseller Report

<ul>
<li>Treasury yields jumped yesterday, led by the short-end, as a stronger than expected nonfarm payrolls report drove traders to exit bets on a July rate cut.</li>
<li>As of yesterday, Fed-dated OIS were pricing in an almost zero chance of a rate decrease in July, along with 51 bps of cuts by year-end (vs. 65 bps as of Wednesday).</li>
<li>The yield on the 2Y UST rose 10 bps to 3.88%, while the yield on the 10Y UST was up 7 bps at 4.35%. </li>
</ul>


Treasury yields jumped yesterday, led by the short-end, as a stronger than expected nonfarm payrolls report drove traders to exit bets on a July rate cut.
As of yesterday, Fed-dated OIS were pricing in an almost zero chance of a rate decrease in July, along with 51 bps of cuts by year-end (vs. 65 bps as of Wednesday).
The yield on the 2Y UST rose 10 bps to 3.88%, while the yield on the 10Y UST was up 7 bps at 4.35%. 


<ul>
<li>US Treasury yields declined 4-5 bps across the curve yesterday, on account of softer-than-expected consumer confidence data and amid Fed Chairman Jerome Powell's cautious remarks on rate cuts.</li>
<li>The yield on the 2Y UST declined 4 bps to 3.83%, while the yield on the 10Y UST fell 5 bps to 4.30%.</li>
<li>Equities rallied on easing tensions in the Middle East, with the S&amp;P 500 and Nasdaq up 1.1% and 1.4%, respectively.</li>
</ul>


US Treasury yields declined 4-5 bps across the curve yesterday, on account of softer-than-expected consumer confidence data and amid Fed Chairman Jerome Powell's cautious remarks on rate cuts.
The yield on the 2Y UST declined 4 bps to 3.83%, while the yield on the 10Y UST fell 5 bps to 4.30%.
Equities rallied on easing tensions in the Middle East, with the S&amp;P 500 and Nasdaq up 1.1% and 1.4%, respectively.


India

Vedanta Resources Limited operates as a diversified natural resource company. The Company extracts and process zinc, lead, aluminum, iron ore, copper, and silver, as well as focuses on oil and natural gas. Vedanta Resources serves clients worldwide.

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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: MGM China, SK Hynix, Tata Steel, Vedanta...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Adani Energy Solutions, Vedanta Resources, JSW...

Lucror Analytics

Is Vedanta Running a Ponzi Scheme? Deep Dive into Findings of Shortseller Report

Foreign short seller accuses Vedanta Group of being a Ponzi scheme, citing aggressive dividends, debt-funded activities, and stagnancy in...

Nimish Maheshwari

Lucror Analytics - Morning Views Asia

Treasury yields jumped yesterday, led by the short-end, as a stronger than expected nonfarm payrolls report drove traders to exit bets on a July...

Lucror Analytics

Lucror Analytics - Morning Views Asia

US Treasury yields declined 4-5 bps across the curve yesterday, on account of softer-than-expected consumer confidence data and amid Fed Chairman...

Lucror Analytics

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, SK Hynix, Tata Steel, Vedanta...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Adani Energy Solutions, Vedanta Resources, JSW...

Lucror Analytics

Is Vedanta Running a Ponzi Scheme? Deep Dive into Findings of Shortseller Report

​Foreign short seller accuses Vedanta Group of being a Ponzi scheme, citing aggressive dividends, debt-funded activities, and stagnancy in...

Nimish Maheshwari

Lucror Analytics - Morning Views Asia

Treasury yields jumped yesterday, led by the short-end, as a stronger than expected nonfarm payrolls report drove traders to exit bets on a July...

Lucror Analytics

Lucror Analytics - Morning Views Asia

US Treasury yields declined 4-5 bps across the curve yesterday, on account of softer-than-expected consumer confidence data and amid Fed Chairman...

Lucror Analytics

Foreign short seller accuses Vedanta Group of being a Ponzi scheme, citing aggressive dividends, debt-funded activities, and stagnancy in...