Summary: BBSW increase again; swap rates increase; swap spreads widen.
Bank bill swap rates increased again this week.
BBSW
| TERM TO MATURITY | CLOSING RATE | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 1 month | 4.15 | 0.08 | 0.09 |
| 3 months | 4.31 | 0.09 | 0.16 |
| 6 months | 4.68 | 0.15 | 0.29 |
Swap rates also increased, outpacing their Commonwealth Government counterparts’ movements.
SWAP RATES
| TERM TO MATURITY | CLOSING RATE | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 1 year | 4.51 | 0.13 | 0.16 |
| 3 years | 4.52 | 0.15 | 0.30 |
| 5 years | 4.80 | 0.13 | 0.42 |
| 10 years | 5.12 | 0.12 | 0.52 |
| 15 years | 5.26 | 0.12 | 0.55 |
As a result, swap spreads generally widened. By the end of the week, 3-year, 5-year and 10-year spreads had all gained 5bps to 21bps, 36bps and 30bps respectively.
