The physical bank bill rate remained unchanged at 0.89%, as did 3-month BBSW. 6-month BBSW crept up 1bp to 0.96%.
Swap rates increased roughly in line with their ACGB counterparts. The 1-year swap rate inched up 1bp over the week to 0.75%, the 3-year rate gained 5bps to 0.75%, the 5-year rate rose by 7bps to 0.96%, the 10-year rate increased by 9bps to 1.29% and the 15-year rate advanced by 10bps to 1.52%.
As a result, swap spreads were almost unchanged. The 3-year spread finished the week unchanged at 5bps, the 5-year spread increased from 20bps to 21bps and the 10-year spread remained unchanged at 17bps.
AFMA BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.83 | 0.01 | -0.09 |
| 90 Day | 0.89 | 0.00 | -0.04 |
| 180 Day | 0.96 | 0.01 | -0.07 |
| 1 Year | 0.75 | 0.01 | -0.13 |
| 3 Year | 0.75 | 0.05 | -0.12 |
| 5 Year | 0.96 | 0.07 | -0.07 |
| 10 Year | 1.29 | 0.09 | -0.02 |
| 15 Year | 1.52 | 0.10 | 0.00 |