The physical bank bill rate remained unchanged at 0.92%, while 3-month BBSW slipped 1bp to 0.91%. 6-month BBSW shed 3bps to 1.00%.
Swap rates fell a touch while their ACGB counterparts finished the week largely unchanged. 1-year and 3-year swap rates both slipped 1bp over the week to 0.80% and 0.83% respectively, the 5-year rate shed 2bps to 1.05% while 10-year and 15-year rates each lost 3bps to 1.38% and 1.62% respectively.
As a result, swap spreads were almost unchanged by the end of the week. The 3-year spread finished 1bp lower at 3bps, the 5-year spread also slipped 1bp to 18bps while the 10-year spread had shed 2bps to 13bps.
AFMA BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.86 | -0.01 | 0.03 |
| 90 Day | 0.91 | -0.01 | 0.02 |
| 180 Day | 1.00 | -0.03 | 0.04 |
| 1 Year | 0.80 | -0.01 | 0.05 |
| 3 Year | 0.83 | -0.01 | 0.08 |
| 5 Year | 1.05 | -0.02 | 0.09 |
| 10 Year | 1.38 | -0.03 | 0.09 |
| 15 Year | 1.62 | -0.03 | 0.10 |