Swaptions: 6m1y / 6m2y Vol Ratio At 4 Standard Deviations

The ratio of vols (6m1y over 6m2y) stands at more than 4 standard deviations from its mean over the entire period covered by Bloomberg's data, which is more than 12 years. In that respect, the 6m1y clearly is expensive relative to the 6m2y.


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