It is important to note the following:
By default, when the system displays a calculated rate such as the fixed rate or the spread it calculates for the breakeven rate, i.e., the rate that will give an NPV of 0 (zero). If you then manually edit the calculated rate, any subsequent change to the deal’s configuration or to the market data will result in the system recalculating the deal's NPV according to your given rate. That is, the system does not solve for the new calculated rate that will ensure an NPV of zero.
When are rates calculated?
For some instruments, the calculated rates (for example, the forward rate, ATM strike, ATM volatility, fixed rate, floating leg spread, etc., as relevant to the instrument) are automatically calculated as soon as you enter a term or change any of the input data. This is true for the following instruments-swaps, cap/floors (though not the quanto version) and European swaptions (and their strategies).
For all other instruments, this data is not displayed until the user calculates the instrument.
When you click the Refresh button in either of the pricing pages this not only refreshes the data displayed in the pricing page, but also refreshes the rates in the market data pages if they were previously frozen by clicking the Accept button.