Summary: BBSW rates unchanged; shorter-term swap rates unchanged while longer-term swap rates increase; swap spreads tighten to zero or just above.
3-month and 6-month BBSW both remained unchanged at 0.01% and 0.02% respectively.
Swap rates remained stable at the short end but rose elsewhere along the long end. By the end of the week, 1-year and 3-year rates each remained unchanged at 0.02% and 0.12% and the 5-year rate had ticked up 1bp to 0.46%. 10-year and 15-year rates each gained 2bps to 1.22% and 1.60% respectively.
As a result, some swap spreads narrowed a touch while other remained stable. By the end of the week, the 3-year spread had slipped 1bp to 1bps while 5-year and 10-year spreads unchanged at 2bps and zero respectively.
BBSW - SWAP RATES
| TERM TO MATURITY | Closing Rate | Δ WEEK | Δ MONTH |
|---|---|---|---|
| 30 Day | 0.01 | 0.00 | 0.00 |
| 90 Day | 0.01 | 0.00 | 0.00 |
| 180 Day | 0.02 | 0.00 | 0.00 |
| 1 Year | 0.02 | 0.00 | -0.01 |
| 3 Year | 0.12 | 0.00 | -0.03 |
| 5 Year | 0.46 | 0.01 | 0.04 |
| 10 Year | 1.22 | 0.02 | 0.15 |
| 15 Year | 1.60 | 0.02 | 0.16 |