Summary: BBSW unchanged; swap rates modestly accross curve; swap spreads a touch tighter.
Both 3-month and 6-month BBSW remained unchanged at 0.04% and 0.10% respectively.
Swap rates declined modestly across much of the curve, a touch more than their Commonwealth Government benchmarks. By the end of the week, the 1-year rate remained unchanged at 0.07% while 3-year and 5-year rates had each slipped 1bp to 0.30% and 0.80% respectively. Both 10-year and 15-year rates each finished 2bps lower at 1.68% and 2.07% respectively.
As a result, swap spreads tightened a touch. By the end of the week, 3-year, 5-year and 10-year spreads all slipped 1bp lower to 20bps, 10bps and 1bp respectively.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.01 | -0.01 | 0.00 |
| 90 Day | 0.04 | 0.00 | 0.01 |
| 180 Day | 0.10 | 0.00 | 0.02 |
| 1 Year | 0.07 | 0.00 | 0.02 |
| 3 Year | 0.30 | -0.01 | 0.04 |
| 5 Year | 0.80 | -0.01 | 0.05 |
| 10 Year | 1.68 | -0.02 | 0.01 |
| 15 Year | 2.07 | -0.02 | -0.01 |