If we are given a yield curve, say a swap curve. It has maturities of 6-months, 3 years, & 5 years. If we are doing a 6-month carry, is it true we can only borrow at the 6-month rate? Or can we short any of the rates & pay it in a carry trade?
You can borrow or lend at any rate and unwind it in 6 months.