Summary: BBSW unchanged; swap rates fall; spreads pretty stable.
Both 3-month and 6-month BBSW remained unchanged at 0.04% and 0.10% respectively.
Swap rates fell across the curve largely in line with their Commonwealth Government benchmarks. By the end of the week, the 1-year rate had slipped 1bp to 0.05%, the 3-year rate had returned to its starting point at 0.30%, the 5-year rate had lost 2bps to 0.83%, the 10-year rate had shed 4bps to 1.71% and the 15-year rate finished 5bps lower at 2.10%.
As a result, swap spreads were pretty stable. By the end of the week, the 3-year spread had returned to its starting point at 21bps while the 10-year spread finished 1bp higher at 2bps.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.01 | 0.00 | 0.00 |
| 90 Day | 0.04 | 0.00 | 0.00 |
| 180 Day | 0.10 | 0.00 | 0.00 |
| 1 Year | 0.05 | -0.01 | -0.03 |
| 3 Year | 0.30 | 0.00 | -0.03 |
| 5 Year | 0.83 | -0.02 | -0.02 |
| 10 Year | 1.71 | -0.04 | 0.00 |
| 15 Year | 2.10 | -0.05 | 0.03 |