Last week physical 90d bank bills inched down to 2.14% as did the 90d BBSW. The big moves in swap rates were at the long end as the effects of the global flight to safety flowed through various parts of the market. Spreads to implied bond yields (see table) narrowed although spreads to physical bonds widened (see chart).
AFMA BBSW / Swap Rates
|MATURITY||CLOSE||Δ WEEK||Δ MTH|