Summary: 3-month, 6-month BBSW each up 1bp to 0.03%, 0.07% respectively; swap rates increase across curve; swap spreads a little wider.
3-month BBSW and 6-month BBSW each ticked up 1bp to 0.03% and 0.07% respectively.
Swap rates increased just a little short of their Commonwealth Government benchmarks. By the end of the week, the 1-year rate had added 4bps to 0.15%, the 3-year rate had gained 13bps to 0.77%, the 5-year rate had increased by 12bps to 1.23%, the 10-year rates had risen by 2bps to 1.78% while the 15-year rate finished 1bp higher at 2.04%.
As a result, swap spreads widened a little. By the end of the week, the 3-year spread had added 1bp to 17bps, the 5-year spread had gained 3bps to 21bps while the 10-year spread finished 1bp wider at 13bps.
NB. Spreads are calculated with respect to “spot” Australian Commonwealth Government bond yields.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.01 | 0.00 | 0.00 |
| 90 Day | 0.03 | 0.01 | 0.02 |
| 180 Day | 0.07 | 0.01 | 0.04 |
| 1 Year | 0.15 | 0.04 | 0.11 |
| 3 Year | 0.77 | 0.13 | 0.36 |
| 5 Year | 1.23 | 0.12 | 0.39 |
| 10 Year | 1.78 | 0.02 | 0.32 |
| 15 Year | 2.04 | 0.01 | 0.30 |