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SpreadBench NCSX-IS — AI Infrastructure Bond Issuance Spread Index

ncsx_marks

Read-onlyIdempotent

Second, independent layer: quarterly fair-value marks for AI-infrastructure bonds as reported by US registered funds on SEC Form N-PORT (Level 2), converted to spread over the matched Treasury. Compare with NCSX-IS to see issuance spread vs. mark spread.

Tool call template

This tool declares no required parameters. Add optional parameters from the input schema as needed.

{
  "id": 1,
  "jsonrpc": "2.0",
  "method": "tools/call",
  "params": {
    "arguments": {},
    "name": "ncsx_marks"
  }
}

Input Schema

NameRequiredDescriptionDefault

No arguments

Schema Changelog

Changes observed during successful MCP inspections.

  1. Added

TDQS

A3.7/5.0
Behavior4/5

Does the description disclose side effects, auth requirements, rate limits, or destructive behavior?

Annotations already establish read-only, idempotent, non-destructive, closed-world behavior, so the description's job is data provenance - and it delivers that: SEC Form N-PORT as the source, Level 2 as the fair-value hierarchy, quarterly cadence, and the Treasury-spread transformation. It does not cover lag/refresh timing or how fund-level filings are aggregated to a single mark, which are the remaining behavioral unknowns.

Agents need to know what a tool does to the world before calling it. Descriptions should go beyond structured annotations to explain consequences.

Conciseness4/5

Is the description appropriately sized, front-loaded, and free of redundancy?

Two tight sentences, no filler, with the data identity stated first and the comparison use case second. The opening 'Second, independent layer:' is context-dependent phrasing that only pays off for a reader who already knows the first layer, so it is slightly less front-loaded than it could be.

Shorter descriptions cost fewer tokens and are easier for agents to parse. Every sentence should earn its place.

Completeness3/5

Given the tool's complexity, does the description cover enough for an agent to succeed on first attempt?

With no output schema, the description must convey the return shape, and it does so only partially - it says what is returned (marks as spread over matched Treasury) but not coverage universe size, date range/history depth, instrument identifiers, or how Treasury matching is done. For a data-retrieval tool whose output is entirely unstructured to the agent, these gaps matter.

Complex tools with many parameters or behaviors need more documentation. Simple tools need less. This dimension scales expectations accordingly.

Parameters4/5

Does the description clarify parameter syntax, constraints, interactions, or defaults beyond what the schema provides?

The tool takes zero parameters, so there is no parameter meaning to add or omit; the baseline for a parameterless tool applies. Nothing in the description misleads about inputs.

Input schemas describe structure but not intent. Descriptions should explain non-obvious parameter relationships and valid value ranges.

Purpose4/5

Does the description clearly state what the tool does and how it differs from similar tools?

The description names a specific resource and derivation: quarterly fair-value marks for AI-infrastructure bonds from SEC Form N-PORT (Level 2), rebased as spread over the matched Treasury. It frames itself as a 'second, independent layer,' which separates it from the raw-bond siblings, though the referenced comparison target 'NCSX-IS' does not match any listed sibling name, leaving some ambiguity about which tool supplies the first layer.

Agents choose between tools based on descriptions. A clear purpose with a specific verb and resource helps agents select the right tool.

Usage Guidelines3/5

Does the description explain when to use this tool, when not to, or what alternatives exist?

It offers one usage cue ('Compare with NCSX-IS to see issuance spread vs. mark spread'), which is real guidance, but there is no explicit statement of when to prefer this tool over ncsx_bond or ncsx_latest, and no exclusions. Usage is implied rather than specified.

Agents often have multiple tools that could apply. Explicit usage guidance like "use X instead of Y when Z" prevents misuse.

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