Summary: BBSW finished steady; swap rates rise; swap spreads widen.
Bank bill swap rates finished unchanged this week.
BBSW
| TERM TO MATURITY | CLOSING RATE | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 1 month | 4.31 | 0.00 | 0.01 |
| 3 months | 4.36 | 0.00 | 0.02 |
| 6 months | 4.45 | 0.00 | -0.03 |
Swap rates increased in contrast with the falls of their Commonwealth Government counterparts.
SWAP RATES
| TERM TO MATURITY | CLOSING RATE | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 1 year | 4.19 | 0.06 | -0.11 |
| 3 years | 3.86 | 0.10 | -0.21 |
| 5 years | 4.06 | 0.15 | -0.21 |
| 10 years | 4.35 | 0.19 | -0.20 |
| 15 years | 4.49 | 0.19 | -0.20 |
As a result, swap spreads widened. By the end of the week the 3-year spread had gained 18bps to 17bps, the 5-year spread had added 22bps to 33bps while the 10-year spread finished 25bps higher at 28bps.
