Summary: BBSW down again; swap rates mostly up; swap spreads touch tighter at front of curve, touch wider elsewhere.
Bank bill swap rates decreased again this week.
BBSW
| TERM TO MATURITY | CLOSING RATE | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 1 month | 4.06 | 0.00 | -0.04 |
| 3 months | 4.15 | -0.02 | -0.14 |
| 6 months | 4.45 | -0.05 | -0.20 |
Swap rates rose across most of the curve, generally keeping pace with the rises of their Commonwealth Government counterparts.
SWAP RATES
| TERM TO MATURITY | CLOSING RATE | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 1 year | 4.27 | -0.02 | -0.21 |
| 3 years | 4.12 | 0.06 | -0.09 |
| 5 years | 4.30 | 0.10 | 0.03 |
| 10 years | 4.57 | 0.12 | 0.17 |
| 15 years | 4.70 | 0.12 | 0.21 |
Swap spreads were a touch tighter at the front of the curve but a touch wider elsewhere. By the end of the week, the 3-year spread had slipped 1bp to 23bps while 5-year and 10-year spreads both finished 1bp higher at 34bps.
