Summary: BBSW rates up a touch; swap rates almost stable except at “belly”; swap spreads wider except at front of curve.
3-month and 6-month BBSW both ticked up 1bp to 0.04% and 0.07% respectively.
Swap rates remained almost stable except at the “belly” of the curve. By the end of the week, the 1-year rate remained unchanged at 0.07%, the 3-year rate had increased by 1bp to 0.35%, the 5-year rate had gained 4bps to 0.94%, the 10-year rate remained unchanged at 1.86% while the 15-year rate finished 1bp lower at 2.24%.
As a result, swap spreads widened although not at the front of the curve. By the end of the week, the 3-year spread had slipped 1bp to 22bps while the 5-year spread had increased by 5bps to 11ps and the 10-year spread had increased by 5bps to 3bps.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.01 | 0.00 | 0.00 |
| 90 Day | 0.04 | 0.01 | 0.03 |
| 180 Day | 0.07 | 0.01 | 0.05 |
| 1 Year | 0.07 | 0.00 | 0.05 |
| 3 Year | 0.35 | 0.01 | 0.23 |
| 5 Year | 0.94 | 0.04 | 0.49 |
| 10 Year | 1.86 | 0.00 | 0.66 |
| 15 Year | 2.24 | -0.01 | 0.66 |