Summary: Bank bill and BBSW rates unchanged; swap rates fall by increasing amounts across curve; spreads to ACGB yields a little lower, more negative.
The physical bank bill rate remained unchanged at 0.10%, as did 3-month BBSW. 6-month BBSW remained at 0.16%.
Swap rates fell by increasing amounts across the curve. By the end of the week, the 1-year rate had slipped 1bp to 0.12%, the 3-year rate had shed 2bps to 0.20%, the 5-year rate had decreased by 3bps to 0.37%, the 10-year rate had fallen by 6bps to 0.79% while the 15-year rate finished 7bps lower at 1.03%.
As a result, swap spreads decreased a little, becoming more negative. By the end of the week, the 3-year spread had shed 2bps to -6bps, the 5-year spread had slipped 1bp to -2bps while the 10-year spread finished unchanged 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 | 0.00 | -0.02 |
| 1 Year | 0.12 | -0.01 | -0.01 |
| 3 Year | 0.20 | -0.02 | -0.01 |
| 5 Year | 0.37 | -0.03 | -0.02 |
| 10 Year | 0.79 | -0.06 | -0.02 |
| 15 Year | 1.03 | -0.07 | 0.00 |