Summary: BBSW generally decline; swap rates rise; swap spreads barely change.
Bank bill swap rates generally declined this week.
BBSW
| TERM TO MATURITY | CLOSING RATE | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 1 month | 4.30 | -0.01 | -0.01 |
| 3 months | 4.34 | 0.00 | -0.02 |
| 6 months | 4.45 | -0.02 | 0.00 |
Swap rates generally kept pace with the rises of their Commonwealth Government counterparts.
SWAP RATES
| TERM TO MATURITY | CLOSING RATE | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 1 year | 4.22 | 0.01 | 0.03 |
| 3 years | 3.97 | 0.06 | 0.11 |
| 5 years | 4.18 | 0.08 | 0.12 |
| 10 years | 4.45 | 0.06 | 0.10 |
| 15 years | 4.59 | 0.05 | 0.10 |
As a result, swap spreads barely changed. By the end of the week the 3-year spread had slipped 1bp to 19bps, the 5-year spread had returned to its starting point at 35bps while the 10-year spread finished 1bp lower at 25bps.
