The physical bank bill rate fell by 3bps to 0.89%, as did 3-month BBSW. 6-month BBSW lost 5bps to 0.91%.
Swap rates followed their Commonwealth Government counterparts down all along the curve. 1-year and 3-year swap rates both shed 8bps to 0.71% and 0.66% respectively, 5-year and 10-year rates both lost 12bps to 0.79% and 1.07% respectively while the 15-year rate fell by 13bps to 1.29%.
As a result, swap spreads mostly remained largely unchanged. By the end of the week, the 3-year spread was unchanged at 2bps, the 5-year rate had shed 3bps to 13bps and the 10-year spread had finished 1bp lower at 14bps.
AFMA BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.81 | 0.00 | -0.02 |
| 90 Day | 0.89 | -0.03 | 0.02 |
| 180 Day | 0.91 | -0.05 | -0.05 |
| 1 Year | 0.71 | -0.08 | -0.04 |
| 3 Year | 0.66 | -0.08 | -0.14 |
| 5 Year | 0.79 | -0.12 | -0.23 |
| 10 Year | 1.07 | -0.12 | -0.28 |
| 15 Year | 1.29 | -0.13 | -0.29 |