The physical bank bill rate inched up 1bp to 1.94% as did BBSW. 6-month BBSW increased by 1bp to 2.11%.
The swap curve moved up and again it was generally in line with its ACGB counterpart. The 1-year rate crept up 1bp to 1.98%, the 3-year rate increased by another 6bps to 2.22%, 5-year rates gained 7bps to 2.58% while 10-year and 30-year rates both increased by 8bps to 2.95% and 3.14% respectively.
As a result, swap-to-bond spreads were a touch wider. The 3-year spread increased by 1bp to 11bps, the 5-year spread remained unchanged at 27bps and the 10-year spread widened by 1bp to 19bps.
AFMA BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 1.87 | 0.00 | 0.01 |
| 90 Day | 1.94 | 0.01 | 0.02 |
| 180 Day | 2.11 | 0.01 | 0.00 |
| 1 Year | 1.98 | 0.01 | 0.06 |
| 3 Year | 2.22 | 0.06 | 0.10 |
| 5 Year | 2.58 | 0.07 | 0.08 |
| 10 Year | 2.95 | 0.08 | 0.05 |
| 15 Year | 3.14 | 0.08 | 0.05 |