Summary: 3-month BBSW, 6-month BBSW slip; most swap rates lower across curve; spreads mostly wider.
Both 3-month BBSW and 6-month BBSW finished the week 1bp lower at 0.02% and 0.06% respectively.
Swap rates fell by increasing amounts along the curve but generally not as much as their Commonwealth Government benchmarks. By the end of the week, the 1-year rate had inched up 1bp to 0.07%, the 3-year rate had returned to its starting point at 0.41%, the 5-year rate had lost 2bps to 0.79%, the 10-year rate had fallen by 9bps to 1.36% while the 15-year rate finished 10bps lower at 1.63%.
As a result, swap spreads mostly widened except at the long end. By the end of the week, the 3-year spread had gained 5bps to 11bps, the 5-year spread had also gained 5bps to 11bps while the 10-year spread finished 1bp lower at 8bps.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.01 | 0.00 | 0.00 |
| 90 Day | 0.02 | -0.01 | 0.00 |
| 180 Day | 0.06 | -0.01 | 0.01 |
| 1 Year | 0.07 | 0.01 | 0.01 |
| 3 Year | 0.41 | 0.00 | -0.06 |
| 5 Year | 0.79 | -0.02 | -0.15 |
| 10 Year | 1.36 | -0.09 | -0.20 |
| 15 Year | 1.63 | -0.10 | -0.25 |