Which of the following statements isNOTtrue? Show your explanations.

1. The primary difference between the Treasury yield curve and the swap curve is usually attributed to credit risk.
2. As the swap curve is constructed from swap rates, which in turn are based on Treasury securities, it must be identical to the Treasury yield curve.
3. Just as forward rates can be computed from coupon bond prices, they can also be computed from swap rates via an analogous procedure.
4. Analogous to a yield curve for U.S. Treasury securities, one can be "swap curve" from bbalibor rates for Eurodollars and par swap rates.
5. A swap is equivalent to a combination of forward rate agreements and zero-coupon bonds.