Summary: Bank bill and BBSW rates mostly unchanged; swap rates generally fall by 2bps-3bps; spreads to ACGB yields lower, more negative.
The physical bank bill rate remained unchanged at 0.10%, as did 3-month BBSW. 6-month BBSW slipped 1bp to 0.17%.
Swap rates fell across the curve except at the very front. By the end of the week, the 1-year rate remained unchanged at 0.13%, the 3-year rate had shed 2bps to 0.18% while 5-year, 10-year and 15-year rate finished 3bps lower at 0.33%, 0.72% and 0.96% respectively.
As a result, swap spreads decreased a little, becoming more negative. By the end of the week, the 3-year spread had slipped 1bp to -8bps, the 5-year spread had also slipped 1bp but to -4bps while the 10-year spread finished 4bps lower at -11bps.
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 | 0.00 |
| 180 Day | 0.17 | -0.01 | 0.01 |
| 1 Year | 0.13 | 0.00 | -0.01 |
| 3 Year | 0.18 | -0.02 | -0.05 |
| 5 Year | 0.33 | -0.03 | -0.08 |
| 10 Year | 0.72 | -0.03 | -0.13 |
| 15 Year | 0.96 | -0.03 | -0.13 |