The physical bank bill rate remained unchanged at 0.92%, as did 3-month BBSW. 6-month BBSW shed 2bps to 0.96%.
Swap rates barely changed all along the curve, except at the short end where rates increased a little. The 1-year swap rate added 2bps to 0.79%, 3-year and 5-year rates both remained unchanged at 0.74% and 0.91% respectively, the 10-year rate slipped 1bp to 1.19% and the 15-year rate finished unchanged at 1.42%.
As a result, swap spreads remained unchanged for the most part. By the end of the week, 3-year, 5-year and 10-year spreads had all finished unchanged at 2bps, 16bps and 15bps respectively.
AFMA BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.81 | -0.01 | -0.05 |
| 90 Day | 0.92 | 0.00 | 0.01 |
| 180 Day | 0.96 | -0.02 | -0.04 |
| 1 Year | 0.79 | 0.02 | -0.01 |
| 3 Year | 0.74 | 0.00 | -0.09 |
| 5 Year | 0.91 | 0.00 | -0.14 |
| 10 Year | 1.19 | -0.01 | -0.19 |
| 15 Year | 1.42 | 0.00 | -0.20 |