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.

High Yield Experts

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

Credit

<p>October was shocking for HY/EM bond investors after an early month surge in yields on USTs. The yield on 10Y USTs spiked 12 bps to 3.18%, following hawkish comments by Fed Chairman Jerome Powell, as well as strong ISM non-manufacturing and ADP employment reports. There was subsequently another jump to 3.25%, after a massive upward revision to US non-farm payrolls for August and July, while the unemployment rate fell to 3.7%. This fuelled concerns that the Fed might need to accelerate the pace of its rate increases. Later in the month, however, equity weakness and a rising VIX saw bond yields retract somewhat. The yield on 10Y USTs ended the month 9 bps higher at 3.15%.</p>
<p>In China, the PBOC made a hefty 100 bps reduction in banks’ reserve requirement ratios. The central bank also released CNY 1.2 tn into the banking system through a ratio cut for major banks. Premier Li Keqiang has specifically ruled out devaluing the yuan to boost domestic growth. The PBOC may be on the lookout to loosen monetary policy further, according to newswire reports. The pullback in industrial profit growth data might call for such action, given the heightening trade war with the US.</p>

October was shocking for HY/EM bond investors after an early month surge in yields on USTs. The yield on 10Y USTs spiked 12 bps to 3.18%, following hawkish comments by Fed Chairman Jerome Powell, as well as strong ISM non-manufacturing and ADP employment reports. There was subsequently another jump to 3.25%, after a massive upward revision to US non-farm payrolls for August and July, while the unemployment rate fell to 3.7%. This fuelled concerns that the Fed might need to accelerate the pace of its rate increases. Later in the month, however, equity weakness and a rising VIX saw bond yields retract somewhat. The yield on 10Y USTs ended the month 9 bps higher at 3.15%.
In China, the PBOC made a hefty 100 bps reduction in banks’ reserve requirement ratios. The central bank also released CNY 1.2 tn into the banking system through a ratio cut for major banks. Premier Li Keqiang has specifically ruled out devaluing the yuan to boost domestic growth. The PBOC may be on the lookout to loosen monetary policy further, according to newswire reports. The pullback in industrial profit growth data might call for such action, given the heightening trade war with the US.

Lucror Asia HY Monthly – Corporate Governance in Chinese Companies (October 2018)

Agile Property Holdings

Lucror Asia HY Monthly – Corporate Governance in Chinese Companies (October 2018)