Summary:
Swap rates moved lower across the short- and long-term maturities. The Short-term swaps (1–6 months) were lower over the week, with the 1-month rate at 3.54% (-0.01% weekly) and the 6-month rate at 3.67% (-0.03% weekly).
Medium- to long-term swaps (1–15 years) edged lower, both weekly and monthly, reflecting modest downward pressure on medium-dated rates. The 1-year rate was 3.33% (-0.03% monthly), while the 10- and 15-year rates rose to 4.18% and 4.41%, up 0.04% and 0.04% over the week, respectively.
Bank Bill Swap Rate
TERM TO MATURITY CLOSING RATE Δ WEEK Δ MONTH 1 month 3.54 -0.01 -0.02 3 months 3.56 -0.02 -0.02 6 months 3.67 -0.03 -0.02 SWAP RATES
TERM TO MATURITY CLOSING RATE Δ WEEK Δ MONTH 1 year 3.33 -0.03 0.02 3 years 3.37 -0.01 0.05 5 years 3.76 0.01 0.02 10 years 4.18 0.04 -0.04 15 years 4.41 0.04 -0.06
Exhibit 1: Australian 3Y/10Y Bond Yield
