Compare net euros, not a headline spread.
One calculation convention prevents several common quote-comparison errors.
The notebook
Off-ramps notes
Source notes and operating distinctions. These are dated research articles, not a live news feed.
- Sheet
- 020
- Section
- The notebook
- Instrument
- Current chart
- Edition
- 12 · XI · 2026
An instant euro leg is not an instant off-ramp.
Start and stop the clock at the right events.