8 common pitfalls in Investing

The world of investing is an exciting as well as a dangerous realm to be in.With the ongoing uncertainty in the financial markets, investors are finding it hard to stay cool-headed.The fact is, most investors are finding it hard, as to where their money should be in right now. A better approach should not be where you should be investing but what you should avoid when investing.This may be called as a defensive approach towards investing. Lets go through some of these common pitfalls.

• Lack of Knowledge Having knowledge on what you are doing serves to help you along the way.It prepares you on your investing journey.For example, if you are currently investing in stocks ad shares, then you should know how to read financial statements. This will be essential as it helps to find the true value of a company that you are investing in.As Warren Buffett once said - "Risk comes from not knowing what you are doing".


• Timing the market Many a time, investors almost always try to time when they should invest.This notion can backfire on them when they get it all wrong. There is no one in this world who can have a perfect accuracy on predicting what investments are turning out to be.What you can only do is to appreciate the ebbs and flows of market dynamics such that you have a regular investment plan for yourself.In other words, you should be identifying good investments and buying them at a price which reflects its true value.A dollar-cost-averaging approach works for a smart investor who wants more returns over the long run.


• Buying on tips Getting a tip or two from a colleague or someone whom you really trust are quite normal.What is less healthy is when investors take the advise wholly.Picture this scenario, if your tip is good, you make some money.If your tip is a bad one then it'll do the opposite.This is dangerous.The worst thing that can happen to investors is when they lose psychologically.He or she will be deterred from investing.So do your homework.Even if you got a great tip from someone, proceed with due diligence.


• No exit plan It does not matter when you buy an investment.What matters is when you sell it.Therefore knowing when to get out when your investments turn the wrong way, can be the best thing any investor can equip his or herself with.So have a plan.Know how much loss you can stomach and what is your target profit from any investment you have.


• Holding on to losses Most of us fall into this category.We are too quick to take our profits and we hold our losses indefinitely.Shouldn't we be doing the exact opposite?However for an investor who holds for the long term, losses will always be there.What makes the difference between an inevitable loss and an investment that is only experiencing a minor correction, is knowledge. So if your investment horizon is less than 5 years, a 50% loss needs a 100% gain to breakeven.


• Risk management Know how much risk you are taking and whether it mirrors your personality.Different people have different appetite for risk.Hence know whether your investments are participating in any form of financial leveraging.Be informed on how much risk you are taking for the amount of return you desire.


• Desire for sophistication Some investors are always looking for a holy grail method for them to make money consistently.They search for that secret formula to make them profitable every time.The best investors are those who apply simple logic and sense.They never buy the 'high' and never 'sell' the low.


• Having an opinion Having an opinion on the market outlook is better than having none.It doesn't matter if you get it wrong.Because if you do get it wrong, at least you know you need to rebalance your investment portfolio.Investors fail because they follow others and not having an opinion of their own.

That's all folks!

Updates on our upcoming seminar!

In case you did not know, there will be an investment seminar coming up.It will be perfect for those who have not invested before or are looking for fresh ideas on how you can invest safely by being adequately informed.

The details are as follows:

Title:"After Japan, does Asia still provide good investment opportunities?"

Date: 14th of May 2011

Place: Raffles City Tower, Level 6 (City Hall MRT)

Time: 2pm to 5pm

Refreshments provided

Be informed.Be educated.

Register now!

Investing in gold?

So why has gold seen a dramatic rise to record highs?

1)Demand of the asset with the status of "safe haven" reaching records of ten year highs in 2010 of 3,812.2 tonnes. So where is this demand coming from?

We have Emerging market banks, who have been large buyers of gold, snapping up gold as a means to preserving national wealth and promoting greater financial stability, as these markets have been experiencing rapid growth and with the European debt crisis, Central banks unlikely to be holding any gold sales soon.

Looking forward, we can also expect buying to be dominated by Asia and emerging economies.

4 other key demand factors are:

-a 17% higher demand in 2010 than in 2009 in the jewellery sector

-the revival of the indian market and growing momentum in the gold demand in the Chinese market, which together took up a 51% of market share in investment and jewellery demand last year.

-Central banks are net buyers instead of sellers of gold for the first time in 21 years during 2010, which

Also due to the depreciation of the US dollar. Since the beginning of August, gold prices have increased more than 10 percent while the dollar index has fallen by only 2 percent. This may be signalling the intent of investors, who are bearish on the US dollars. This is not helped with the fact that the Fed's printing of money, with further quantitative easing, investors seem to be left with very few other alternatives than the safe haven of gold.

So has gold hit the roof at 1400? Is this where we can expect some resistance, well actually back in the 1980s, gold hit a record high of $875 and adjusting it for inflation that would actually turn out into a record high of $2315.52 in 2010 dollars! (Inflation Adjustment calculator)

Where the outlook of gold is concerned, current forecasts out of investment banks is that the rise of the precious metal will continue, although with a warning that it may have reached a mature phase in its recent rally.

In a Goldman Sachs report, their forecast on gold is that it would peak in 2012 at about $1,750 or about 30% higher than its current price of $1438. The current view that is that the current price of gold makes it a compelling trade, but not a long term one.

So what are the avenues for investing in gold?

Gold Etfs - ETFs or Exchange Traded Funds indexed to the price of gold are the smartest bet because they forgo the messy externalities that accompany most other assets that are said to offer exposure to gold.

SPDR Gold shares is an Exchange traded fund(ETF) can be bought and sold anytime via any stock broker/ via electronic platforms and investors can buy as little as one board lot or 10 shares. (Click Here)

Each share is backed by a gold bullion, held in an allocated account by the custodian HSBC bank. Its cost effectiveness comes in the form of the transaction costs which are lower than the costs associated with purchase, storage and insurance of physical gold.

Each gold share represents 1/10 of an ounce of gold. Ticker symbol is GLD 10US$.

UOB gold account- For more information on the gold savings account, you can take a look at this link: "Click HERE"

Gold futures Contract - the futures contrace is a very speculative arena where one's exposure to the market is leveraged and highly exposed where movements up and down are highly magnified. So the risks are much higher here with 9/10 investors likely to walk away with nothing.

Mutual fund that is invested into securities of gold mining or extraction companies. For example, investing in a such fund over the last 10years would have yielded returns of 518.9744%. This avenue overs a much safer avenue to building up your wealth as compared to venturing into futures contracts and for those who are not investment savvy, and are not well versed with trading SPDR shares or ETFs then mutuals funds are the best option.


Gold Equities, such as mining company stocks, get caught up in general market forces such as bull and bear cycles, phases that do not affect gold bullion prices.

For example:

-Change in management
-operational cost efficiency
-political or local currency risks


So unless you're buying into buying into various mining companies to diversify your holdings this may not be recommended.

One future option that may open up to investors soon is a Europe-based company Swiss Precious Metals(SPM) looks to be to tap into the high networth clients in asia with plans to setup a gold bullion storage at the singapore freeport facility, aimed at those who wish to diversify their portfolio into physical holdings of the precious metal.

There's also plans of an SPM gold index to track the value of the metal vs a basket of currencies.

Here are some Historical Gold Prices:

Closing priceYear @31 Dec	Gold Price ($/oz)
1910	20,67
1920	20,67
1930	20,67
1940	34,5
1950	40,25
1960	36,5
1970	37,6
1980	641,2
1990	423,8
2000	272,15
2001	278,7
2002	346,7
2003	414,8
2004	438,1
2005	517,2
2006	636,6
2007	869.38
2008	878.13
2009	1098.15
30-Mar-10	1416.25

I hope the following information was useful. Happy Investing all!

Daily Market Analysis

Sector Leaders/Laggards for Wednesday 23 March, 2011 AMC

Leading Sectors: Materials (+1.4%), Consumer Discretionary (+0.8%), Tech (+0.6%), Industrials (+0.4%), Consumer Staples (+0.3%), Telecom (+0.2%), Energy (+0.2%)

Leading Industries/ETFs : Gold Miners-GDX +3.63%; Copper-JJC +2.74%; Silver-SLV +2.6%; Indonesia-IDX +2.36%; Russia-RSX +1.85%; Natural Gas-UNG +1.85%

Other Market Moving Factors:
• Financials lag, but materials plays provide leadership
• Latest round of earnings comes in somewhat mixed
• Oil prices trade above $105/bbl despite greater-than-expected build in weekly oil inventories
• New home sales for February drop to record low rate

• Asian Markets Close;

Nikkei -1.7%, Hang Seng -0.1%, Shanghai +1.0%

Asian stocks closed mostly higher despite a sharp selloff in Japan. Drinking water in Tokyo is under inspection for unsafe levels of radiation as parents have been advised to not give the water to children. The U.S. Food and Drug Administration announced it was stopping imports of milk, vegetables, and fruit from the areas in the vicinity of the nuclear plant. Singapore's CPI came in at a cooler-than expected 5.0% YoY (5.4% expected) while Taiwan's industrial production slowed to 13.3% YoY (16.3% expected/17.4% prior). Looking at the currencies...the yuan settled weaker at 6.5585 while dollar/yen is little changed at 80.95.

In Japan, the Nikkei closed -1.7% as industrials and energy both lost close to 2.5%. Tokyo Electric Power Co fell 4.1% as the co continues to deal with the fallout from the nuclear crisis.

In Hong Kong, the Hang Seng finished -0.1% as coal producer China Coal tumbled 7.6% following earnings that were well below expectations. The co announced net income rose to CNY 7.47 bln which was well short of the CNY 10 bln expected by analysts.

In China, the Shanghai Composite settled +1.0% to finish higher for the fourth consecutive session. Coal miners saw strong gains after reports that Beijing announced an emergency stockpiling program for coal that aimed to reach 5 million metric tons. Yanzhou Mining gained 4.7% on the news and coal based energy co China Shenhua Energy gained 2.0%.

In India, the Sensex closed +1.2% as strength in financials led the way. Financials added 2.3% with ICICI Bank leading the way with a 3.7% gain. Automaker Mahindra & Mahindra fell 1.0% after the Dehli government announced a hike in the registration fee for diesel vehicles.

• European Markets Closing Prices

UK's FTSE: +0.6%
Germany's DAX: +0.4%
France's CAC: +0.5%
Spain's IBEX: +0.6%
Portugal's PSI: -1.0%


Market Internals for Wednesday 23 March, 2011 AMC

NYSE : Lower than avg volume @ 877 mln, vs. 1033 mln
Advancers outpaced Decliners (adv/dec): 1635/1325
New highs outpaced new lows (hi/lo): New lows outpaced new highs (hi/lo):

NASDAQ : Lower than avg volume @ 1772 mln, vs. 1810 mln
Advancers outpaced Decliners (adv/dec): 1386/1216
New highs outpaced new lows (hi/lo): New lows outpaced new highs (hi/lo):

Commodities AMC on Wednesday 23 March, 2011:
Light Crude (NYM) May 11 ($US per bbl.) : 105.75 +0.78 (+0.74%)
Gold (CMX ) April 11 ($US per Troy oz.) : 1,438.00 +10.40 (+0.73%)

Treasury Yields AMC on Wednesday 23 March, 2011:
• 2 Year Note 0.69% +0.01
• 5 Year Note 2.07% unch
• 10 Year Note 3.36% +0.02
• 30 Year Bond 4.44% unch 2/30 Spread : 375bps (-1) ... 2/10 Spread : 267bps (+1)

This rally is strange.

Precious Metals

In 2010,the gold price surged 29% to finish the year srong at $1420 per ounce, not far off its all time high. There is an increased recognition by the global investment community of the importance of gold as an alternative currency as well as a good hedge against rising inflationary pressures. The acceptance of gold as a financial asset has been growing quite steadily over the last decade, however it is only post the global financial crisis that it has attracted such mainstream attention.

Central banks were reliable sellers of gold but this have changed in the past two years. In 2009 and 2010, central bank reserves of gold increased by 631 tonnes. Emerging markets in the likes of China and India,have looked to diversify their rapidly growing foreign exchange reserves away from the US dollar. European central banks have stopped selling, following 30 years of reducing their gold holdings. This has an implication on the liquidity of the physical gold market hence boosting its underlying price.

The challenges ahead for the sector are political instability and government bureaucracy which can halt the rate of industry growth despite record gold prices. M&A activities are evident in the industry where players are looking to obtain new assets with excess cashflow.

The attractiveness of acquiring companies with under-developed ore bodies have increased. On the other hand, when looking at gold equities, the potential of buybacks, splits and dividends as a result of excess cash is very very attractive.

Looking to 2011, with high profit margins, increasing dividends and the potential for further M&A activity, I believe the gold miners-paricularly those that can deliver growth in a challenging environment-should have a good year ahead.

However, point to note-as compared to there metals like iron, copper and aluminium, the rise in gold prices does reflect increasing demand (although the real use of the commodity are much more restricted than the rest of the commodity family). I can't think that the usage of gold can be more than just for ornamental purposes and also for electrical wiring.Therefore,the high demand may be speculative in nature.

Daily Market Analysis

This looks easy. Now we have to see whether it's really sustainable.

Market Moving Factors:
• Risk trade returns
• AT&T acquires T-Mobile in $39 billion deal
• Citigroup announces reverse split and intent to reinstate dividend
• Existing home sales for February come short of consensus forecast


• Asian Markets Close: Nikkei CLOSED; Hang Seng +1.7%; Shanghai +0.1; Sensex -0.2%

Although Japan was closed, most of the attention was centered around its developments. For the most part, the weekend passed without further incident, and power has now been restored to all 6 of the reactors at Fukushima Daini Nuclear Power Station. The markets are finding relief in this, and as such, are trading higher across the board. Worth noting, black smoke was reported coming out of reactor #3. There were no reports of why, and no explosion was reported thus far. It has since dissipated. Moody's made some comments indicating that there is increased downside risk to Japan, perhaps signalling a ratings move.

In China, a major bank speculated that the PBOC would raise interest rates next month and sees inflation peaking in 1H11. Looking at currencies the yen is weaker to 81.00...the yuan is little changed to 6.5645.

In Japan, as mentioned above, the markets were closed for its Equinox public holiday.

In Hong Kong, the Hang Seng finished +1.7% with energy stocks gaining ground on the strong overnight move in crude. CNOOC and PetroChina both posted gains over 3%. The Red Chip Index closed up 2.4% while H-shares finished 1.8% higher. In China, the Shanghai closed little changed, up 0.1% the market had its first chance to respond to the PBOC's RRR hike on Friday.

In India, the Sensex finished down 0.2% with only 13 stocks finishing in positive territory. The heavily weighted Reliance Industries and Infosys both finished in negative territory.


• European Markets Closing Prices
UK's FTSE: +1.2%
Germany's DAX: +2.3%
France's CAC: +2.5%
Spain's IBEX: +2.4%
Portugal's PSI: +1.5%

Market Internals for Monday 21 March, 2011 AMC

NYSE : Lower than avg volume @ 1001 mln, vs. 1033 mln
Advancers outpaced Decliners (adv/dec): 2458/547
New highs outpaced new lows (hi/lo): 129/11

NASDAQ : Higher than avg volume @ 2048 mln, vs. 1810 mln
Advancers outpaced Decliners (adv/dec): 2048/574
New highs outpaced new lows (hi/lo): 88/28


Treasury Yields AMC on Monday 21 March, 2011:
• 2 Year Note 0.67% +0.06
• 5 Year Note 2.04% +0.08
• 10 Year Note 3.34% +0.06
• 30 Year Bond 4.45% +0.02
2/30 Spread : 378bps (-4) ... 2/10 Spread : 267bps (unch)

Economic Events 10:00 am FHFA Housing Price Index

Conferences and Shareholder/Analyst Meetings of Interest
- GT Investor Meeting
- DAL, LUV, UAL at JP Morgan Aviation, Transportation and Defense Conference
- Fed's Pianalto

SUMMARY

With little on the economic front and Japan on the mend, Libya is the only concern but war has always been a reason to be bullish in the U.S. I am staying with the trend. Should there be any ratings move on Japan, it might affect the gains it has had for the past few days.

Is Gold A Good Investment?

There has been a lot of debate lately as to whether or not gold is a good investment. So lets have a look whether it is good investment for the long term or for the short term. Below is the price history of Gold in US dollars for past 20 years:

Year	Closing Price	Year	Closing Price
1993	$391.75	2002	$342.75
1994	$383.25	2003	$417.25
1995	$387.00	2004	$435.60
1996	$369.00	2005	$513.00
1997	$287.05	2006	$635.70
1998	$288.70	2007	$836.75
1999	$290.25	2008	$869.75
2000	$272.65	2009	$1087.50
2001	$276.50	2010	$1420.25

1. Is gold a good investment for the long term? Yes, if you count in 2009 and 2010 ,when people invest highly in gold as they are afraid that they will lose value in money due to the weakening of US dollar. Annual rate of return is around 7%. But besides these 2 years, the rate of return annually is just around 4.5%. The average rate of return tracked as far back as history will go is a little better than 2%. However, if you were to have invested your money in a good index fund (i.e. S&P 500 or Dow Jones), you would have earned on average 9% in those same years. So, gold is a not really a good investment with a fairly mediocre track record. Though it is doing well right now, don't count on it.

2. Is it good if it is for the short term? Not right now, that is, if you don't already have invested in it. A common rule for investing is to NEVER buy high. And right now the price is exceptionally high. But, again, with its track record, we should be very careful about taking any chances as the price can be very volatile. It might still be going up in the next few years for all we know. But rather than taking the risk, it might be better if we look at other alternatives such as ETFs, real estates and commodities.

Think about it....

Daily Market Analysis

Do not be fooled by the large volumes. It was Expiration Friday and volumes are always higher on those days.Up Volumes starts to decrease towards the end of the session and Down Volumes were seen gaining at te same time. All in all, the TRIN is frightening to look at now. VIX futures are not backing to below 20 on friday indicating that volatility is still the main concern in the US markets.

Market Moving Factors:
• Large-cap tech loses support
• G7 intervenes in yen-dollar dynamic
• Japan raises nuclear safety alert level
• UN establishes no-fly zone over Libya

In Japan, the Nikkei closed +2.7% with exporters recording strong gains following announcement that the G7 will intervene to weaken the yen. Tokyo Electric Power co soared 19% to close limit up after falling 62% over the previous week.

In Hong Kong, the Hang Seng finished +0.1% with property stocks leading the index to a small gain. China Overseas Land soared 6.5% after the co announced a 66% rise in its 2010 net profit while Henderson Land jumped 4.0% after its 2010 net profit topped expectations.

In China, the Shanghai Composite settled +0.3% with machinery co Sany Heavy Industry gaining 7.6% after reporting its 2010 net income climbed 113%. Also seeing strength was Dongfang Electric (+1.6%) after seeing a plunge of more than 7% the previous day.

In India, the Sensex closed -1.5% as oil and gas stocks saw the heaviest selling. Oil refiner Reliance industries lost nearly 4% on reports that out at its KG-D6 basin were expected to drop 13%.

• European Markets Closing Prices
UK's FTSE: +0.4%
Germany's DAX: +0.1%
France's CAC: +0.6%
Spain's IBEX: +0.0%
Portugal's PSI: +1.3%

Market Internals for Friday 18 March, 2011

NYSE : Higher than avg volume @ 1905 mln, vs. 1033 mln
Advancers outpaced Decliners (adv/dec): 2135/827
New highs outpaced new lows (hi/lo): 63/54

NASDAQ : Higher than avg volume @ 2608 mln, vs. 1810 mln
Advancers outpaced Decliners (adv/dec): 1786/843
New lows outpaced new highs (hi/lo): 62/105


COMMODITIES & BONDS

Commodities AMC on Friday 18 March, 2011:

Light Crude (NYMEX) April 11 ($US per bbl.) : 101.07 (-0.35 -0.35%)
Natural Gas (NYMEX) April 11 ($US per mmbtu.) : 4.17 (+0.01 +0.24%)
Unleaded Gas (NYMEX) April 11 ($US per gal.) : 2.95 (-0.0012 -0.04%)

Gold (NYMEX) April 11 ($US per Troy oz.) : 1,416.10 (+11.90 0.85%)
Silver (NYMEX) May 11 ($US per Troy oz.) : 35.06 (+0.80 +2.34%)
Copper (NYMEX) May 11 ($US per lb.) : 4.34 (-0.005 -0.12%)

Corn (CBT) May 11 (cents per bu.) : 683.50 (+37.00 +5.72%)
Soyabeans (CBT) May 11 (cents per bu.) : 1,362.50 (+27.25 +2.04%)
Wheat (CBT) May 11 (cents per bu.) : 723.00 (+12.75 +1.80%)

Cocoa (NYMEX) May 11 ($ per metric ton) : 3,107.00 (-20.00 -0.64%)
Coffee (NYMEX) May 11 (cents per pound) : 277.45 (+1.25 +0.45%)
Sugar #11 (NYMEX) May 11 (cents per pound) : 27.60 (-0.11 -0.40%)


Treasury Yields AMC on Friday 18 March, 2011:
• 2 Year Note 0.61% +0.01
• 5 Year Note 1.96% +0.05
• 10 Year Note 3.28% +0.03
• 30 Year Bond 4.43% +0.01
2/30 Spread : 382bps (unch) ... 2/10 Spread : 267bps (+2)

Daily Market Analysis

Still not quite ready to call a rally yet. After all, there are such things as Bull Traps.Rally after lunchtime there with volumes up during final hours of trading.

After a weak start at their lowest levels since December, June stock index futures rallied throughout the session today. There seemed to be a number of factors working in favour of an upside rebound, including a return of risk appetites and a round of favorable US economic data. The highlights of last night's US economic data showed the February Consumer Price Index jumping at its fastest clip since September 2009 and Manufacturing Activity in the Mid-Atlantic region coming in much higher than expected. Natural resource stocks were among the best performers today, as they seemed to benefit from the rally in physical commodity markets. Oil service shares were up more than 3.5% in response to a rally in crude oil prices.

However, there did seem to be a late-day pause, as traders faced a G-7 conference call in the later hours, possible intervention to temper the rise in the Japanese Yen and ongoing uncertainty in the Middle East and North Africa region.


Market Moving Factors:

• Oil prices push past $100/brl
• Dollar extends drop against yen
• Initial jobless claims fall in line with Briefing.com consensus
• CPI increases slightly more than expected
• Philly Fed Index surges to 25-year high

Asian Markets Close: Nikkei -1.4%, Hang Seng -1.8%, Shanghai -1.1%, Sensex -1.1%

The major Asian indices closed lower as Japan continues to try and prevent a nuclear meltdown at the Fukushima Daiichi facility. Dollar/yen plunged to a record low 76.42 before recovering some of its losses. The Reserve Bank of India hiked both its repurchase rate and reverse repurchase rate 25 bps to 6.75% and 5.75% respectively. The hikes were widely expected as the RBI continues to deal with rising inflation. China announced a suspension of approvals for new nuclear power plants. Looking at the currencies...the yuan settled weaker at 6.5753 while dollar/yen is trading 78.88.

In Japan, the Nikkei closed -1.4% with exporters Cannon (-3.3%) and Toyota (2.2%) seeing weakness. Tokyo Electric Power, the operator of the troubled Fukushima Daiichi facility plunged another 13% and is down 62% for the week.

In Hong Kong, the Hang Seng finished -1.8% on weakness in technology which occurred following internet gaming co Tencent Holdings announcing a weaker-than-expected fourth quarter net profit.

In China, the Shanghai Composite settled -1.1% with nuclear-related shares seeing heavy losses. Nanfang Ventiliator, a co that supplies nuclear plants in China with ventilation systems, plunged the daily allowance of 10% while Dongfang Electric fell 7.6%.

In India, the Sensex closed -1.1% as financials (-0.8%) traded lower following the RBI's interest rate hikes. ICICI Bank and HDFC Bank were among the biggest decliners.

• European Markets Closing Prices
-UK's FTSE: +1.8%
-Germany's DAX: +2.2%
-France's CAC: +2.4%
-Spain's IBEX: +2.3%
-Portugal's PSI: -0.3%

Market Internals for Thursday 17 March, 2011 AMC NYSE :

Higher than avg volume @ 1035 mln, vs. 1033 mln

Advancers outpaced Decliners (adv/dec): 2198/806

New lows outpaced new highs (hi/lo): 43/48NASDAQ :

Higher than avg volume @ 1994 mln, vs. 1810 mln

Advancers outpaced Decliners (adv/dec): 1569/1002

New lows outpaced new highs (hi/lo): 43/106

Commodities AMC on Thursday 17 March, 2011:
Light Crude (NYMEX) April 11 ($US per bbl.) : 101.42 (+3.44 +3.51%)
Gold (NYMEX) April 11 ($US per Troy oz.) : 1,404.20 (+8.10 +0.58%)



Treasury Yields AMC on Thursday 17 March, 2011:
• 2 Year Note 0.60% +0.02
• 5 Year Note 1.91% +0.04
• 10 Year Note 3.25% +0.03
• 30 Year Bond 4.42% +0.04 2/30 Spread : 382bps (+2) ... 2/10 Spread : 265bps (+1)



No economic reports out tonight.