Which function is used to analyze the bond's relative value against the swap curve?

The function used to analyze a bond's relative value against the swap curve is RVS, which stands for Relative Value Swap. This function allows users to compare the bond's yield to that of the swap curve, providing insights into how the bond is valued in relation to fixed income swap rates. By utilizing this function, analysts can assess whether a bond is trading at a premium or discount compared to the prevailing swap rates, helping them make informed investment decisions.

The other functions serve different purposes: RVD focuses on relative value analysis but not specifically against the swap curve, HSA is typically used for historical scenario analysis, and CBS is tailored for cash flow analysis related to bonds and securities. Each of these has its own specific use case but does not directly address the relationship between a bond's yield and the swap curve as effectively as RVS does.