The physical bank bill rate slipped 1bp to 0.12%, as did 3-month BBSW. 6-month BBSW shed 2bps to 0.18%.
Swap rates eased while their Commonwealth Government counterparts generally increased a touch. 1-year, 3-year, 5-year, 10-year and 15-year rates all slipped 1bp over the week to 0.19%, 0.32%, 0.53%, 0.94% and 1.11% respectively.
As a result, swap spreads tightened. By the end of the week, the 3-year spread had tightened from 7bps to 5bps, the 5-year rate had narrowed from 12bps to 10bps while the 10-year spread finished 6bps lower at 5bps.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.11 | -0.02 | -0.41 |
| 90 Day | 0.12 | -0.01 | -0.40 |
| 180 Day | 0.18 | -0.02 | -0.52 |
| 1 Year | 0.19 | -0.01 | -0.24 |
| 3 Year | 0.32 | -0.01 | -0.18 |
| 5 Year | 0.53 | -0.01 | -0.24 |
| 10 Year | 0.94 | -0.01 | -0.39 |
| 15 Year | 1.11 | -0.01 | -0.29 |