USD_LIBOR rates are only published up to 12 months.
how would you approach constructing the curve to at least a 30-year tenor, to price for example an interest rate swap.
I have heard that swaps can be used, however, I am not sure how this would be done. Nowhere are there real live examples. Most websites just mention that you can use swap rates. but how?
Use USD LIBOR up to 12 months, add US Swap rates for 1 year +
But if I am correct, Swap rates are not equal to LIBOR rates, as they say, that the difference is the 'swap spread'.
so how can we use these US swap rates, to construct the USD LIBOR curve beyond 12 months?