Evergrande (4th biggest real estate player in China) bonds losing 3%... might be some bad news coming in the sector or from the company... or could be related to the fact that Nomura came out with a paper this morning highlighting the over-investments in real estate been made in 3rd, 4th tier cities (which account for more thanb 65% of housing under construction in 2013). Will be interesting to follow where the stock will open tonight in HK (ticker 3333)