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

The Europe HY Trade Book for March 2023 includes high-conviction trade ideas drawn from our European HY coverage universe, along with relative-value scatter plots and tables by industry.

  The Europe HY Trade Book for March 2023 includes high-conviction trade ideas drawn from our European HY coverage universe, along with relative-value scatter plots and tables by industry. 

Europe HY Trade Book - March 2023 - Lucror Analytics

In our European High Yield Investment Outlook, we first discuss our high-conviction trade recommendations. We then examine major geopolitical and macroeconomic drivers for the year, as well as commodity price trends. We also assess the interest rate exposure of companies in our coverage universe and elaborate on developments for European HY markets, including new issuances and defaults. Lastly, we cover sectoral developments and the key drivers for companies under our coverage. Overall, we are cautiously optimistic for 2023, and believe selected names still offer interesting opportunities, albeit spreads have recovered strongly this year.

  In our European High Yield Investment Outlook, we first discuss our high-conviction trade recommendations. We then examine major geopolitical and macroeconomic drivers for the year, as well as commodity price trends. We also assess the interest rate exposure of companies in our coverage universe and elaborate on developments for European HY markets, including new issuances and defaults. Lastly, we cover sectoral developments and the key drivers for companies under our coverage.   Overall, we are cautiously optimistic for 2023, and believe selected names still offer interesting opportunities, albeit spreads have recovered strongly this year.   

European High Yield Investment Outlook 2023 - Lucror Analytics

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.

Technical Analysis

<ul>
<li>We currently see the market indexes as consolidating within broad horizontal trading ranges, and we expect these ranges to continue for months, and quite possibly for the entirety of 2023.</li>
<li>We see the top-end of the range at 4100-4165 on the S&amp;P 500, while the bottom-end is at the 2022 lows (3490).</li>
<li>With yesterday's break above 3910 it tells us a tradable rally has begun, with 4100-4165 our target</li>
</ul>


We currently see the market indexes as consolidating within broad horizontal trading ranges, and we expect these ranges to continue for months, and quite possibly for the entirety of 2023.
We see the top-end of the range at 4100-4165 on the S&amp;P 500, while the bottom-end is at the 2022 lows (3490).
With yesterday's break above 3910 it tells us a tradable rally has begun, with 4100-4165 our target


Awaiting CPI Thursday; Expect 4100-4165 SPX to Cap Upside; Buy Ideas Within Gold Miners, Insurance

The Europe HY Trade Book for December 2022 includes high-conviction trade ideas drawn from our European HY coverage universe, along with relative-value scatter plots and tables by industry.

  The Europe HY Trade Book for December 2022 includes high-conviction trade ideas drawn from our European HY coverage universe, along with relative-value scatter plots and tables by industry. 

Europe HY Trade Book - December 2022 - Lucror Analytics

The Europe HY Trade Book for October 2022 includes high-conviction trade ideas drawn from our European HY coverage universe, along with relative-value scatter plots and tables by industry.

  The Europe HY Trade Book for October 2022 includes high-conviction trade ideas drawn from our European HY coverage universe, along with relative-value scatter plots and tables by industry. 

Europe HY Trade Book - October 2022 - Lucror Analytics

United States

Constellium SE provides development and manufacturing of aluminium products. The Company offers cansheet, closures, plates, sheets and extrusions, body sheet, structural components, crash management systems, plates, and other related products. Constellium serves packaging, automotive, aerospace, transportation, defense, construction, and electronics markets worldwide.

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Constellium (CSTM US)

Europe HY Trade Book - March 2023 - Lucror Analytics

The Europe HY Trade Book for March 2023 includes high-conviction trade ideas drawn from our European HY coverage universe, along with...

Lucror Analytics

European High Yield Investment Outlook 2023 - Lucror Analytics

In our European High Yield Investment Outlook, we first discuss our high-conviction trade recommendations. We then examine major geopolitical and...

Lucror Analytics

Awaiting CPI Thursday; Expect 4100-4165 SPX to Cap Upside; Buy Ideas Within Gold Miners, Insurance

With yesterday's break above 3910 in $SPX we see a tradable rally, but 4100-4165 is likely to cap upside; reduce risk into that area. Buy ideas...

Vermilion Research

Europe HY Trade Book - December 2022 - Lucror Analytics

The Europe HY Trade Book for December 2022 includes high-conviction trade ideas drawn from our European HY coverage universe, along with...

Lucror Analytics

Europe HY Trade Book - October 2022 - Lucror Analytics

The Europe HY Trade Book for October 2022 includes high-conviction trade ideas drawn from our European HY coverage universe, along with...

Lucror Analytics

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