Question: Consider a swap with starting date T0 and a fixed rate K. For t T0, show that Vfl t /Vfix t = L ,T0

Consider a swap with starting date T0 and a fixed rate K. For t ≤ T0, show that Vfl t /Vfix t = L˜ δ,T0 t /K, where L˜ δ,T0 t is the forward swap rate.

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