Summary: BBSW unchanged; swap rates fall across curve; swap spreads stable.
Both 3-month and 6-month BBSW remained unchanged at 0.04% and 0.10% respectively.
Swap rates fell by increasing amounts along the curve, largely in line with their Commonwealth Government benchmarks. By the end of the week, the 1-year rate had returned its starting point at 0.07%, the 3-year rate had slipped 1bp to 0.32%, the 5-year rates finished had lost 2bps to 0.83% while 10-year and 15-years rates each finished 7bps lower at 1.69% and 2.06% respectively.
As a result, swap spreads remained stable. By the end of the week, 3-year and 10-year spreads remained unchanged at 23bps and 6bp respectively.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.01 | -0.01 | 0.00 |
| 90 Day | 0.04 | 0.00 | 0.00 |
| 180 Day | 0.10 | 0.00 | 0.01 |
| 1 Year | 0.07 | 0.00 | 0.01 |
| 3 Year | 0.32 | -0.01 | 0.03 |
| 5 Year | 0.83 | -0.02 | 0.01 |
| 10 Year | 1.69 | -0.07 | -0.05 |
| 15 Year | 2.06 | -0.07 | -0.07 |