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Learning From Market Tremors | Hari Krishnan
Forward Guidance
Is LIBOR a Swap Spread?
In a swap spread, where I'm basically getting the equivalent of a treasury, which part of the trade am I on? Am I paying fixed receding floating or paying floating receding fixed? Well, it's tied to LIBOR when people are typically talking about it. So if rates go up and you're receiving the floating rates, you win. Maybe it's a hedge, but you win in isolation. If the reverse is true, you lose.
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