The physical bank bill rate remained slipped 1bp to 1.72% while the 3 month BBSW remained steady at 1.72%.
The swap curve steepened as rates rose across the curve. The 1 year remained unchanged at 1.85%, the 3 year rate edged 1bp higher to 2.21%, the 5 year rate increased by 2bps to 2.60%, the 10 year rate rose by 4bps to 2.96% and 15 year rates added 2bps to 3.17%.
Swap rates lagged behind their ACGB counterparts as yields rose in most bond market sectors. The 3 year spread tightened by 3bps to 5bps, the 5 year spread also tightened by 3bps to 25bps and the 10 year spread lost 1bp to 17bps.
AFMA BBSW - SWAP RATES
| MATURITY | Close | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30d | 1.61 | 0.00 | 0.01 |
| 90d | 1.72 | 0.00 | 0.02 |
| 180d | 1.92 | 0.02 | 0.07 |
| 1 Year | 1.85 | 0.00 | 0.07 |
| 3 Year | 2.21 | 0.01 | 0.18 |
| 5 Year | 2.60 | 0.02 | 0.21 |
| 10 Year | 2.96 | 0.04 | 0.17 |
| 15 Year | 3.17 | 0.02 | 0.14 |