Summary: BBSW almost stable; swap rates higher; swap spreads wider.
3-month BBSW ticked up 1bp to 0.04% while 6-month BBSW remained unchanged at 0.08%.
Swap rates rose across the curve, a little more than their Commonwealth Government benchmarks. By the end of the week, the 1-year rate had crept up 1bp to 0.06%, the 3-year rate had gained 6bps to 0.32%, the 5-year rate had added 12bps to 0.87%, the 10-year rate had increased by 14bps to 1.81% while the 15-year rate finished 13bps higher at 2.21%.
As a result, swap spreads widened across the curve. By the end of the week, the 3-year spread had gained 5bps to 21bps, the 5-year spread had increased by 7bps to 15bps and the 10-year spread finished 2bps higher at 3bps.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.01 | 0.00 | 0.00 |
| 90 Day | 0.04 | 0.01 | 0.00 |
| 180 Day | 0.08 | 0.00 | 0.01 |
| 1 Year | 0.06 | 0.01 | -0.01 |
| 3 Year | 0.32 | 0.06 | -0.03 |
| 5 Year | 0.87 | 0.12 | -0.07 |
| 10 Year | 1.81 | 0.14 | -0.05 |
| 15 Year | 2.21 | 0.13 | -0.03 |