Japanese Bonds and Equities This Week

JGB futures hit a record 2 year high (as people moved money from falling shares). JGBs have also been helped by the Eurozone debt crisis. 3 month LIBOR on YEN is currently around 0.24% (24 TV series) compared with 0.53% for USD 3m-Libor (easy to remember, 53 is the 16th prime number) - Yen LIBOR used to be more than USD. NKY is currently around 9700 level (fell a lot in May). GBP 3-month LIBOR is 73 bps (21st prime number).