Summary: 3-month, 6-month BBSW slip 1bp each; swap rates lower across curve; spreads widen.
3-month and 6-month BBSW both slipped 1bp to 0.01% and 0.03% respectively.
Swap rates fell by increasing amounts along the curve but to a lesser extent than their Commonwealth Government benchmarks. By the end of the week, the 1-year rate had slipped 1bp to 0.03%, the 3-year rate had lost 6bps to 0.34% while 5-year, 10-year and 15-year rates each finished 9bps lower at 0.66%, 1.19% and 1.47% respectively.
As a result, swap spreads widened. By the end of the week, the 3-year spread had increased by 7bps to 16bps, the 5-year spread had widened by 3bps to 14bps while the 10-year spread finished 4bps higher at 11bps.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.01 | 0.00 | 0.00 |
| 90 Day | 0.01 | -0.01 | -0.02 |
| 180 Day | 0.03 | -0.01 | -0.03 |
| 1 Year | 0.03 | -0.01 | -0.02 |
| 3 Year | 0.34 | -0.06 | -0.04 |
| 5 Year | 0.66 | -0.09 | -0.06 |
| 10 Year | 1.19 | -0.09 | -0.10 |
| 15 Year | 1.47 | -0.09 | -0.10 |