Summary: Bank bill and BBSW rates mostly unchanged; swap rates fall by increasing amounts across curve; spreads to ACGB yields higher, less negative.
The physical bank bill rate remained unchanged at 0.10%, as did 3-month BBSW. 6-month BBSW slipped 1bp to 0.16%.
Swap rates moved higher across the curve except at the very front. By the end of the week, the 1-year rate remained unchanged at 0.13%, the 3-year rate had gained 4bps to 0.22%, the 5-year rate had increased by 7bps to 0.40%, the 10-year rate had jumped 13bps higher to 0.85% while the 15-year rate finished 14bps higher at 1.10%.
As a result, swap spreads increased a little, becoming less negative. By the end of the week, the 3-year spread had gained 4bps to -4bps, the 5-year spread had increased by 3bps to -1bp while the 10-year spread finished 2bps higher at -9bps.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.09 | 0.00 | 0.00 |
| 90 Day | 0.10 | 0.00 | 0.00 |
| 180 Day | 0.16 | -0.01 | -0.01 |
| 1 Year | 0.13 | 0.00 | 0.01 |
| 3 Year | 0.22 | 0.04 | 0.03 |
| 5 Year | 0.40 | 0.07 | 0.04 |
| 10 Year | 0.85 | 0.13 | 0.08 |
| 15 Year | 1.10 | 0.14 | 0.10 |