What is the focus of the RVD function?

The RVD function is specifically designed to assess relative bond value, which entails comparing the value of different bonds based on certain criteria. This function provides users with insights into the pricing and yield spreads between various bonds, allowing for a detailed analysis of their relative attractiveness as investments.

By utilizing the RVD function, users can examine historical data and trends in bond spreads, enabling them to understand how the value of a specific bond relates to market conditions over time. This analysis is crucial for making informed investment decisions, as it highlights the nuances of bond valuation in relation to other securities.

In this context, the focus on historical spread by duration or displaying historical analysis does not accurately encapsulate the primary purpose of the RVD function. Similarly, while analyzing projected forward rates is important in the broader scope of finance, it falls outside the specific focus of the RVD function, which is centered on relative bond valuation.