The physical bank bill rate remained at 0.10%, as did 3-month BBSW. 6-month BBSW ticked up 1bp to 0.17%.
Swap rates increased along the curve with greater movements as tenors increased, although they were not quite in step with their Commonwealth Government counterparts. The 1-year rate remained unchanged at the end of week at 0.17%, the 3-year rate had ticked up 1bp to 0.27% and the 5-year rate had gained 2bps to 0.46%. 10-year and 15-year rates each finished 3bps higher at 0.88% and 1.08% respectively.
As a result, swap spreads increased. By the end of the week, the 3-year spread had increased from +1bp to +2bps, the 5-year rate had widened by 1bp to +7bps and the 10-year spread finished 1bp higher at -1bp.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.09 | 0.00 | -0.02 |
| 90 Day | 0.10 | 0.00 | -0.02 |
| 180 Day | 0.17 | 0.01 | -0.01 |
| 1 Year | 0.17 | 0.00 | -0.02 |
| 3 Year | 0.27 | 0.01 | -0.05 |
| 5 Year | 0.46 | 0.02 | -0.07 |
| 10 Year | 0.88 | 0.03 | -0.06 |
| 15 Year | 1.08 | 0.03 | -0.03 |