Which of the following is true for the party paying fixed in a newly negotiated interest rate swap when the yield curve is downward sloping?

A.The early forward contracts underlying the swap have a positive value and the later ones have a negative value

B.The early forward contracts underlying the swap have a negative value and the later ones have a positive value

C.The swap is designed so that all forward rates have zero value

D.Sometimes A is true and sometimes B is true