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Basic Question 4 of 12
The Treasury curves are different from swap curves because of differences in:
II. market liquidity.
III. arbitrage activities.
I. credit risks.
II. market liquidity.
III. arbitrage activities.
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Learning Outcome Statements
explain the swap rate curve and why and how market participants use it in valuation;
calculate and interpret the swap spread for a given maturity;
describe short-term interest rate spreads used to gauge economy-wide credit risk and liquidity risk;
CFA® 2025 Level II Curriculum, Volume 4, Module 26.