Summary: 3-month BBSW, 6-month BBSW unchanged; swap rates lower across curve; spreads mostly a little wider.
Both 3-month BBSW and 6-month BBSW finished the week unchanged at 0.03% and 0.07% respectively.
Swap rates fell by increasing amounts along the curve and not quite in line with their Commonwealth Government benchmarks. By the end of the week, the 1-year rate remained unchanged at 0.06%, the 3-year rate had lost 2bps to 0.41%, the 5-year rate had shed 6bps to 0.81%, the 10-year rate had fallen by 9bps to 1.45% while the 15-year rate finished 11bps lower at 1.73%.
As a result, swap spreads widened a little except at the “belly”. By the end of the week, the 3-year spread had gained 2bps to 6bps, the 5-year spread had slipped 1bp to 6bps while the 10-year spread finished 3bps higher at 9bps.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.01 | 0.00 | 0.00 |
| 90 Day | 0.03 | 0.00 | 0.00 |
| 180 Day | 0.07 | 0.00 | 0.02 |
| 1 Year | 0.06 | 0.00 | 0.02 |
| 3 Year | 0.41 | -0.02 | 0.12 |
| 5 Year | 0.81 | -0.06 | 0.07 |
| 10 Year | 1.45 | -0.09 | -0.09 |
| 15 Year | 1.73 | -0.11 | -0.17 |