Im dealing with valuation of Floating Rate Notes and calculate:
1.) The Present Value
2.) Discount Margin
3.) Modified Duration
In a multiple curve framework. I.e., when you generate the cash-flows with a Swap Curve (or any floating rate curve) and discount with e.g., a Government curve + Discount Margin.
I guess the best discount curve for bonds and FRN's are Government curves + spread due to bonds vs. bonds.
I have seen similar questions before but where the generating curve and the discount curve are the same (the old way of thinking?).