Summary: BBSW rates up a touch; swap rates up along curve; swap spreads widen noticeably, still low.
3-month BBSW remained unchanged at 0.01% while 6-month BBSW ticked up 1bp to 0.03%.
Swap rates rose by increasing amounts along the curve. By the end of the week, the 1-year rate had ticked up 1bp to 0.03%, the 3-year rate had increased by 7bps to 0.19%, the 5-year rate had jumped 18bps to 0.64% while 10-year and 15-year rates finished each finished 27bps higher at 1.49% and 1.87% respectively.
As a result, swap spreads widened noticeably, albeit to levels still low by historical standards. By the end of the week, the 3-year spread had gained 6bps to 7bps, the 5-year spread had increased by 7bps to 9bps while the 10-year spread finished 6bps higher at 6bps.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.01 | 0.00 | 0.00 |
| 90 Day | 0.01 | 0.00 | 0.00 |
| 180 Day | 0.03 | 0.01 | 0.01 |
| 1 Year | 0.03 | 0.01 | 0.00 |
| 3 Year | 0.19 | 0.07 | 0.03 |
| 5 Year | 0.64 | 0.18 | 0.19 |
| 10 Year | 1.49 | 0.27 | 0.38 |
| 15 Year | 1.87 | 0.27 | 0.40 |