Steepeners are one example where cashflows are computed as difference between two swap rates, e.g. the 10 years and the 5 years. As the name of instrument suggests, this gives a view on the steepness of the swap curve.
Source: wiktionary
Steepener
Synonyms for "steepener" (1 found)
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Adjective(1 words)
Sample sentences
2 total sentences available.
Provided that the curve doesn't ever flatten too much and the option remains out-of-the-money, then we will put on flatteners when the curve steepens and put on steepeners when the curve flattens.
Source: wiktionary