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credit-spreads

Retrieve current US corporate credit spreads including High Yield OAS, Investment Grade OAS, and BBB OAS. Get HY-IG differential and risk regime classification for fixed-income analysis.

Instructions

Returns current US corporate credit spreads from ICE BofA indices via FRED (free, no API key): High Yield OAS, Investment Grade OAS, and BBB (lowest IG tier) OAS. Includes HY-IG differential and risk regime classification. Pairs with treasury-yields for complete fixed-income discount rate construction.

Input Schema

TableJSON Schema
NameRequiredDescriptionDefault

No arguments

Behavior3/5

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

No annotations provided. Description discloses source and data points but not update frequency, historical depth, or limitations. Partially transparent.

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

Conciseness5/5

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

Two sentences, front-loaded with key action and resource. No fluff.

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

Completeness4/5

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

Covers data sources, specific metrics, and relationship with sibling. No output schema, but enough context for a simple retrieval tool.

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?

No parameters; schema coverage 100%. Description adds context about data content (which indices, OAS values) beyond schema.

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

Purpose5/5

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

Clearly states it returns US corporate credit spreads from ICE BofA indices via FRED. Specifies three OAS values, HY-IG differential, and risk regime. Distinguishes from treasury-yields by mentioning pairing.

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

Usage Guidelines4/5

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

Tells when to use (for credit spreads) and pairs with treasury-yields for discount rates. Notes free FRED data but lacks explicit when-not or alternatives.

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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