Category

Credit

Nov 06
0

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia
  • New World Development – Event Flash – Exchange Offers For All USD Perps And Bonds – Lucror Analytics

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • In today’s Morning Views publication we comment on developments of the following high yield issuers: Adani Energy Solutions, Adani Ports, Bharti Airtel
  • UST yields declined c. 3 bps across the curve yesterday as treasuries advanced amid a slump in risk assets, with the yield on the 2Y and 10Y UST falling to 3.58% and 4.09%, respectively.
  • Equities retreated, after several Wall Street chief executives expressed caution about stretched valuations.

New World Development – Event Flash – Exchange Offers For All USD Perps And Bonds – Lucror Analytics

By Leonard Law, CFA

  • We believe that New World Development’s (NWD) focus for the proposed exchange offers is to reduce its outstanding debt, mainly by restructuring the existing perps.
  • Hence, the exercise, if completed, would be credit positive for the company.
  • This would in turn support the prices of the existing straight bonds.

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Nov 05
0

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • In today’s Morning Views publication we comment on developments of the following high yield issuers: Medco Energi
  • UST yields climbed 3-4 bps across the curve yesterday, amid heightened corporate supply after Alphabet Inc issued USD 25 bn of USD- and EUR-denominated bonds. The yield on the 2Y and 10Y UST rose 3 bps each to 3.61% and 4.11%, respectively.
  • Equities climbed, supported by tech stocks after Amazon’s Cloud unit inked a USD 38 bn deal with OpenAI. The S&P 500 edged up 0.2% to 6,852, while the Nasdaq grew 0.5% to 23,835.

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Nov 04
0

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • Front-end UST yields declined on Friday, unwinding part of the jump in yields following the FOMC rate decision on Wednesday.
  • The yield on the 2Y UST fell 4 bps to 3.57%, while the yield on the 10Y UST was down 2 bps at 4.08%. Equities climbed, supported by optimism over corporate earnings.
  • The S&P 500 gained 0.3% to 6,840, while the Nasdaq rose 0.6% to 23,725. 

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Nov 01
0

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • In today’s Morning Views publication we comment on developments of the following high yield issuers: Adani Energy Solutions, Nissan Motor
  • UST yields rose slightly yesterday, led by the long end, owing to increased corporate bond supply (including Meta Platform’s USD 30 bn offering). The yield on the 2Y UST was up 1 bp at 3.61%, while the yield on the 10Y UST increased 2 bps to 4.10%.
  • Equities slumped, driven by a sell-off in large tech stocks. The S&P 500 declined 1.0% to 6,822, while the Nasdaq fell 1.6% to 23,581. US President Donald Trump and his Chinese counterpart Xi Jinping have concluded a summit in Busan, South Korea, in their first meeting since 2019. 

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Oct 31
0

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • In today’s Morning Views publication we comment on developments of the following high yield issuers: Adani Green Energy, ReNew Energy
  • UST yields climbed 8-11 bps across the curve yesterday. This came as Fed Chairman Jerome Powell sought to temper market expectations for a December rate cut, following the central bank’s widely anticipated 25-bp rate reduction.
  • The UST curve bear flattened, with the yield on the 2Y UST jumping 11 bps to 3.60%, while that on the 10Y UST climbed 10 bps to 4.08%. Equities gave up their intraday gains, with the S&P 500 closing flat at 6,891.

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Oct 30
0

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia
  • SS&C Technologies Taps Into the $1 Trillion Private Credit Boom—Here’s Why It Matters!

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • In today’s Morning Views publication we comment on developments of the following high yield issuers: China Oil & Gas, SK Hynix, Meituan, Pakuwon Jati, Nissan Motor
  • UST yields were little changed yesterday, with little response to a soft auction of 7Y notes. The market focus will be on the FOMC rate decision today, with the Fed largely expected to reduce rates by another 25 bps.
  • Equities notched fresh record highs, supported by expectations of strong Q3/25 earnings from major tech firms.

SS&C Technologies Taps Into the $1 Trillion Private Credit Boom—Here’s Why It Matters!

By Baptista Research

  • SS&C Technologies Holdings, Inc. has delivered a robust financial performance in the third quarter of 2025, marked by an uptick in revenue and earnings per share.
  • The company reported record adjusted revenue of $1.569 billion, reflecting a 7% increase from the previous year, alongside a notable 17.2% growth to reach an adjusted diluted earnings per share of $1.57.
  • Adjusted consolidated EBITDA also reached a record high of $619 million, a rise of 9.3%, leading to a quarterly adjusted EBITDA margin of 39.5%.

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Oct 29
0

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • In today’s Morning Views publication we comment on developments of the following high yield issuers: Thai Oil, Genting Berhad, Nickel Industries, Meituan
  • The UST curve twisted flatter yesterday, with long-end yields declining on account of a solid auction for 5Y notes. The yield on the 2Y UST rose 1 bp to 3.49%, while the yield on the 10Y UST declined 2 bps to 3.98%.
  • Equities and risk assets gained on optimism over a US-China trade deal expected to be signed later this week.

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Oct 28
0

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • In today’s Morning Views publication we comment on developments of the following high yield issuers: Seazen Group, Meituan
  • UST yields ended little changed on Friday, after unwinding declines earlier in the day following the weaker than projected CPI data. The UST curve marginally twisted steeper, with the yield on the 2Y UST down 1 bp to 3.48%, while that on the 10Y UST was unchanged at 4.00%. Equities advanced, as the soft CPI data affirmed market expectations for further Fed easing.
  • The S&P 500 rose 0.8% to 6,792, and the Nasdaq climbed 1.1% to 23,205. US Treasury Secretary Scott Bessent said on Sunday that the US has worked out a framework agreement with China.

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Oct 25
0

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • UST yields rose 5-6 bps across the curve yesterday, amid a rise in oil prices following US sanctions on Russian oil.
  • The yield on the 2Y and 10Y UST advanced 5 bps each to 3.49% and 4.00%, respectively.
  • Equities were also up, led by tech stocks.

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Oct 24
0

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • In today’s Morning Views publication we comment on developments of the following high yield issuers: Genting Berhad, Softbank Group
  • UST yields fell c. 1 bp across the curve yesterday, on the back of a strong auction of 20Y notes and amid little macro developments.
  • The yields on the 2Y and 10Y UST dropped 1 bp to 3.45% and 3.95%, respectively. Equities retreated, with the S&P 500 and Nasdaq declining 0.5% and 0.9%, respectively.

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