Summary:
Swap rates moved lower across the short- and long-term maturities. Short-term swaps (1–6 months) were lower over the week, with the 1-month rate at 3.55% (-0.11% weekly) and the 6-month rate at 3.7% (-0.05% weekly).
Medium- to long-term swaps (1–15 years) edged lower, both weekly and monthly, reflecting modest downward pressure on medium dated rates. The 1-year rate was 3.36% (+0.03% monthly), while the 10- and 15-year rates rose to 4.14% and 4.37%, down 0.10% and 0.12% over the week, respectively.
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TERM TO MATURITY CLOSING RATE Δ WEEK Δ MONTH 1 month 3.55 -0.11 -0.03 3 months 3.58 -0.08 -0.05 6 months 3.7 -0.05 -0.09 SWAP RATES
TERM TO MATURITY CLOSING RATE Δ WEEK Δ MONTH 1 year 3.36 -0.01 0.04 3 years 3.38 -0.01 0.09 5 years 3.75 -0.04 0.07 10 years 4.14 -0.1 0 15 years 4.37 -0.12 -0.02
Exhibit 1: Australian 3Y/10Y Bond Yield
