Summary: Bank bill and BBSW rates unchanged; swap rates generally fall a little; spreads to ACGB yields more negative on balance.
The physical bank bill rate remained unchanged at 0.10%, as did 3-month BBSW. 6-month BBSW also remained unchanged at 0.18%.
Swap rates generally rose a touch at the short end but fell elsewhere along the curve. By the end of the week, the 1-year rate had crept up by 1bp to 0.14%, the 3-year rate remained stable at 0.21%, 5-year and 10-year rates had shed 2bps each to 0.37% and 0.79% respectively while the 15-year rate finished 1bp lower at 1.02%.
As a result, swap spreads increased at the short end but decreased elsewhere. By the end of the week, the 3-year spread had ticked up 1bp to -5bps, the 5-year spread had slipped from -2bps to -3bps while the 10-year spread had decreased by 2bps to -8bps.
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 | -0.01 |
| 180 Day | 0.18 | 0.00 | 0.01 |
| 1 Year | 0.14 | 0.01 | -0.01 |
| 3 Year | 0.21 | 0.00 | -0.03 |
| 5 Year | 0.37 | -0.02 | -0.07 |
| 10 Year | 0.79 | -0.02 | -0.08 |
| 15 Year | 1.02 | -0.01 | -0.08 |