Summary: BBSW down again; swap rates up; swap spreads a touch wider.
Bank bill swap rates declined again this week.
BBSW
| TERM TO MATURITY | CLOSING RATE | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 1 month | 4.05 | -0.01 | -0.01 |
| 3 months | 4.12 | -0.01 | -0.07 |
| 6 months | 4.35 | -0.02 | -0.22 |
Swap rates increased across the curve and rose slightly more than their Commonwealth Government counterparts.
SWAP RATES
| TERM TO MATURITY | CLOSING RATE | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 1 year | 4.22 | 0.01 | -0.11 |
| 3 years | 4.03 | 0.06 | -0.07 |
| 5 years | 4.18 | 0.08 | -0.07 |
| 10 years | 4.44 | 0.09 | -0.08 |
| 15 years | 4.57 | 0.10 | -0.09 |
As a result, swap spreads were a touch wider across the curve. By the end of the week, the 3-year spread had inched up 1bp to 25bps, the 5-year spread had added 2bps to 35bps while the 10-year spread finished 1bp higher at 36bps.
