UJPY - Risk Appetites Return Bigly

• The three-month dollar LIBOR was fixed at a record low of a little less than 15 bp yesterday, and the downside pressure does not appear exhausted.
• The US reports April housing starts and permits today.
• We note that yesterday's March TIC data showed foreign investors bought a record amount of long-term US securities (~$262 bln).
• Gold traded at four-month highs today over $1870 and is consolidating in the European morning.
• Oil prices are also higher, with Brent testing $70 and July WTI probing $67.

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