The physical bank bill rate fell by 2bps to 1.76% while the 3 month BBSW remained unchanged at 1.77%.
The government bond yield curve got steeper as yields fell at the front of the curve and rose at the back of the curve. Swap rates followed suit to a large degree. The 1 year swap rate slipped 1bp to 1.83%, the 3 year rate fell by 3bps to 2.17% and the 5 year rate lost 2bps to 2.59.%. The 10 year and 15 year rates each added 1bp to 3.01% and 3.22% respectively.
Consequently, the 3 year and 5 year swap spreads remained unchanged at 8bps and 20bps respectively. The 10 year spread lost 2bps to 17bps.
AFMA BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 1.67 | -0.01 | 0.04 |
| 90 Day | 1.77 | 0.00 | -0.02 |
| 180 Day | 1.90 | -0.02 | -0.14 |
| 1 Year | 1.83 | -0.01 | -0.02 |
| 3 Year | 2.17 | -0.03 | 0.03 |
| 5 Year | 2.59 | -0.02 | 0.02 |
| 10 Year | 3.01 | 0.01 | 0.06 |
| 15 Year | 3.22 | 0.01 | 0.05 |