The physical bank bill rate remained at 0.10%, as did 3-month BBSW. 6-month BBSW remained unchanged at 0.17%.
Swap rates increased along the curve, largely in line with their Commonwealth Government counterparts except at the “belly”. By the end of the week, the 1-year rate had inched up 1bp to 0.18%, the 3-year rate had added 2bps to 0.29%, the 5-year rate had increased by 8bps to 0.54%, the 10-year rate had jumped by 19bps to 1.07% while the 15-year rate finished 24bps higher at 1.32%.
As a result, swap spreads were fairly stable with the exception of the 5-year spread. By the end of the week, the 3-year spread had slipped +2bps to +1bp, the 5-year rate had widened by 5bps to +12bps and the 10-year spread finished 1bp lower at -2bps.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.09 | 0.00 | -0.01 |
| 90 Day | 0.10 | 0.00 | 0.00 |
| 180 Day | 0.17 | 0.00 | 0.00 |
| 1 Year | 0.18 | 0.01 | 0.02 |
| 3 Year | 0.29 | 0.02 | 0.01 |
| 5 Year | 0.54 | 0.08 | 0.05 |
| 10 Year | 1.07 | 0.19 | 0.17 |
| 15 Year | 1.32 | 0.24 | 0.23 |