What does the swap curve say, and which curve trade does it support?

Paste one currency's par swap curve. Your browser bootstraps zero and forward rates, prices the DV01 of every tenor, measures the slopes and the flies, and sizes DV01-neutral steepeners, flatteners and butterflies with their carry and roll-down. All free, before you sign in. Then the desk reviews the curve like a rates strategist would, and every number it writes is checked against your sheet.

Each example comes with a saved review, so you can see the whole page for free. Example rates are illustrative, not market data.

Curve

Name (optional)

Fixed leg

Carry horizon

Risk per leg ($ per bp)

Par swap curve (one tenor per line: tenor, swap rate; optional government yield and breakeven)

Rates in percent (3.42 or 3.42%). Tenors as 2Y, 10y, 18M or a bare number of years. Columns split by spaces, commas, tabs or pipes; a header row with tenor, swap, govt and breakeven columns is read in any order; a dash leaves a cell empty. Tenors shorter than one fixed period are skipped.

What you want to know (optional)

Drop a curve .csv/.txt or a curve .json saved from this page, or

The curve sheet (free, in your browser, no AI)

What the sheet found

Par, zero and forward curves

Pillars

Tenor	Swap	Zero	DF	DV01 / $1m	Govt	Spread	Breakeven	Real

Slopes and flies

Measure	Value	Note

Forward swaps

Forward	Rate

Curve trades, DV01-neutral

Trade	Legs and notionals	Carry + roll	In dollars

Pin today's sheet; the next paste shows every change in bp.

Paste a curve to price the review.

shape

belly

stance

flags answered

statements checked

disagreements

The curve

Swap spreads and real yields

The trade

Alternatives weighed

Risks

Severity	Risk	Tenors	What to watch

Flags answered

Check before acting

Reconciliation with the sheet

Every number, tenor, slope, fly and forward, the shape, the belly, the stance, the alternatives and every flag the review wrote was checked against the sheet your browser computed. A disagreement means the review, not your sheet, is wrong.

Summary

Raw model reply

The reply did not parse as the structured result, so it is shown as it arrived.

Your recent reviews

What this does, and what it does not

The sheet is a single-curve (OIS) bootstrap: par rates are interpolated linearly between your pillars onto the fixed-leg grid, each fixed period accrues exactly one over the frequency, and discount factors are solved one period at a time so every pasted par rate reprices exactly. Between grid points discount factors are log-linear. Zero rates are annually compounded. A forward swap rate is the par rate of a swap that starts later on the same curve. DV01 is the annuity times one basis point. Slopes are long minus short; a fly is reported two ways, 50/50 (twice the belly minus the wings) and against the maturity-weighted line through the wings, which is also how the fly trades are weighted. Carry and roll assume the curve does not move: carry is the forward swap rate at the horizon minus spot, roll is spot minus the par rate of the rolled-down tenor.

It does not know market levels, history, volatility or where policy is going, so it never calls a slope rich or cheap against its past. It ignores the basis between the swap and the bond conventions, projection-versus-discount curve splits, convexity and the stub conventions of real swaps. The review explains and challenges; it does not tell anyone to trade. Derived from the agent skill @anthropics/swap-curve-strategy (anthropics/financial-services-plugins, Apache-2.0). The example rates are illustrative.