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

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.

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. 

Lucror Analytics - Morning Views Asia - 03 Jul 2019

In this month’s “In-Focus” section, we discuss the vulnerability of Asian credits to external shocks, with the threat this year being the potential fallout from a protracted Sino-US trade war. The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the “In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

   In this month’s “In-Focus” section, we discuss the vulnerability of Asian credits to external shocks, with the threat this year being the potential fallout from a protracted Sino-US trade war.    The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the “In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - Vulnerability Of Asian Credit Market To External Shocks (2019) - Lucror Analytics

At the recent G-20 meeting in Osaka, US President Donald Trump and Chinese President Xi Jinping agreed to a truce in the trade war and to resume trade talks, after Mr Trump indicated a more conciliatory approach to Huawei.
In its June meeting, the FOMC voted nine to one to maintain rates at current levels. The dissenting vote was cast by James Bullard, who preferred to lower the target range by 25 bps. The FOMC statement noted "that the labor market remains strong and that economic activity is rising at a moderate rate".
That said, Chairman Jerome Powell signalled during the press conference that the FOMC is prepared to start cutting rates if needed, to protect the economy from trade conflicts and other threats. The bond market interpreted this as a commitment to cut rates in July, with the treasury curve bull steepening.

At the recent G-20 meeting in Osaka, US President Donald Trump and Chinese President Xi Jinping agreed to a truce in the trade war and to resume trade talks, after Mr Trump indicated a more conciliatory approach to Huawei.
In its June meeting, the FOMC voted nine to one to maintain rates at current levels. The dissenting vote was cast by James Bullard, who preferred to lower the target range by 25 bps. The FOMC statement noted "that the labor market remains strong and that economic activity is rising at a moderate rate".
That said, Chairman Jerome Powell signalled during the press conference that the FOMC is prepared to start cutting rates if needed, to protect the economy from trade conflicts and other threats. The bond market interpreted this as a commitment to cut rates in July, with the treasury curve bull steepening.

Asia HY Monthly – Vulnerability of Asian Credit Market to External Shocks (June 2019)

The Asia HY Trade Recommendations report for June includes a summary of our recommendations, as well as our high-conviction ideas. We also provide relative-value charts and lists of the bonds in the Lucror Asia HY index.

   The Asia HY Trade Recommendations report for June includes a summary of our recommendations, as well as our high-conviction ideas. We also provide relative-value charts and lists of the bonds in the Lucror Asia HY index. 

Asia HY Trade Recommendations - June 2019 - Lucror Analytics

In this month’s “In-Focus” section, we discuss LARA and Credit Bias developments over the past few years for companies under our coverage, including related trends for and between Asia, LatAm and Europe. The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the “In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

   In this month’s “In-Focus” section, we discuss LARA and Credit Bias developments over the past few years for companies under our coverage, including related trends for and between Asia, LatAm and Europe.    The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the “In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - LARA And Credit Bias Study - Lucror Analytics

China

China Aoyuan Group Limited operates as a property development company. The Company develops retails shops and integrated residential projects. China Aoyuan Group conducts businesses domestically and internationally.

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China Aoyuan Property (3883 HK)

Lucror Analytics - Morning Views Asia - 03 Jul 2019

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

Lucror Analytics

Asia HY Monthly - Vulnerability Of Asian Credit Market To External Shocks (2019) - Lucror Analytics

In this month’s “In-Focus” section, we discuss the vulnerability of Asian credits to external shocks, with the threat this year being the...

Lucror Analytics

Asia HY Monthly – Vulnerability of Asian Credit Market to External Shocks (June 2019)

At the recent G-20 meeting in Osaka, US President Donald Trump and Chinese President Xi Jinping agreed to a truce in the trade war and to resume...

Lucror Analytics

Asia HY Trade Recommendations - June 2019 - Lucror Analytics

The Asia HY Trade Recommendations report for June includes a summary of our recommendations, as well as our high-conviction ideas. We also...

Lucror Analytics

Asia HY Monthly - LARA And Credit Bias Study - Lucror Analytics

In this month’s “In-Focus” section, we discuss LARA and Credit Bias developments over the past few years for companies under our coverage,...

Lucror Analytics

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)