Bond Relative Value
- 1 installs
- 34k repo stars
- Updated August 4, 2026
- anthropics/financial-services
Bond-relative-value is a Claude skill that decomposes a bond's spread and runs rate scenarios to assess whether it is rich, cheap, or fair.
About
Bond-relative-value assesses whether bonds are rich, cheap, or fair by decomposing total spread into risk-free, credit, and residual components. It chains fixed-income MCP tools for pricing, yield curves, credit curves, and scenario analysis, then stress-tests the view with parallel rate shocks. The output is a spread-decomposition and scenario-P&L view with a clear buy/underweight/neutral recommendation.
- Decomposes a bond's spread into risk-free, credit, and residual components to judge rich/cheap/fair
- Runs parallel rate-shock scenarios (-100bp to +100bp) for scenario P&L
- Chains fixed-income MCP tools (bond_price, interest_rate_curve, credit_curve, yieldbook_scenario) and synthesizes a reco
Bond Relative Value by the numbers
- 1 all-time installs (skills.sh)
- Ranked #909 of 1,106 Finance & Trading skills by installs in the Skillselion catalog
- Data as of Aug 5, 2026 (Skillselion catalog sync)
bond-relative-value capabilities & compatibility
- Capabilities
- bond futures basis · catalyst calendar
- Use cases
- trading · data analysis
What bond-relative-value says it does
Perform relative value analysis on bonds by combining pricing, yield curve context, credit spreads, and scenario stress testing.
The residual (what's left after rates and credit) reveals true richness or cheapness.
npx skills add https://github.com/anthropics/financial-services --skill bond-relative-valueAdd your badge
Show developers this skill is listed on Skillselion. Paste this into your README.
| Installs | 1 |
|---|---|
| repo stars | ★ 34k |
| Last updated | August 4, 2026 |
| Repository | anthropics/financial-services ↗ |
What it does
Judge whether a bond is rich, cheap, or fair via spread decomposition and rate-shock scenarios.
Who is it for?
Fixed-income analysts assessing bond richness/cheapness and running rate-shock scenarios
Skip if: Computing analytics itself; it routes tool outputs into decomposition and recommends
When should I use this skill?
When analyzing bond richness/cheapness, computing spread decomposition, comparing bonds, or running rate shock scenarios
What you get
A spread-decomposition table, scenario-P&L table, and a rich/cheap/fair recommendation with the bp move that would flip it.
- Spread decomposition table
- Scenario P&L table
- Rich/cheap/fair recommendation
By the numbers
- 6 MCP tools available
- 5-scenario rate-shock grid (-100bp to +100bp)
- 3-component spread decomposition
Files
Bond Relative Value Analysis
You are an expert fixed income analyst specializing in relative value. Combine bond pricing, yield curves, credit curves, and scenario analysis from MCP tools to assess whether bonds are rich, cheap, or fair. Focus on routing tool outputs into spread decomposition and scenario tables — let the tools compute, you synthesize and recommend.
Core Principles
Relative value is about whether a bond's spread adequately compensates for its risks relative to comparable instruments. Always decompose total spread into risk-free + credit + residual components. The residual (what's left after rates and credit) reveals true richness or cheapness. Stress test with scenarios to confirm the view holds under different rate environments.
Available MCP Tools
- `bond_price` — Price bonds. Returns clean/dirty price, yield, duration, convexity, DV01, Z-spread. Accepts ISIN, RIC, or CUSIP.
- `interest_rate_curve` — Government and swap yield curves. Two-phase: list then calculate. Use to compute G-spreads.
- `credit_curve` — Credit spread curves by issuer type. Two-phase: search by country/issuerType, then calculate. Use to isolate credit component.
- `yieldbook_scenario` — Scenario analysis with parallel rate shifts. Returns price change and P&L under each scenario.
- `tscc_historical_pricing_summaries` — Historical pricing data. Use for historical spread context and Z-score analysis.
- `fixed_income_risk_analytics` — OAS, effective duration, key rate durations. Use for callable bonds and deeper risk decomposition.
Tool Chaining Workflow
1. Price the Bond(s): Call bond_price for target and any comparison bonds. Extract yield, Z-spread, duration, convexity, DV01. 2. Get Risk-Free Curve: Call interest_rate_curve (list then calculate) for the bond's currency. Interpolate at bond maturity to compute G-spread. 3. Get Credit Curve: Call credit_curve for the issuer's country and type. Extract credit spread at the bond's maturity. Compute residual spread = G-spread minus credit curve spread. 4. Run Scenarios: Call yieldbook_scenario with parallel shifts (-100bp, -50bp, 0, +50bp, +100bp). Extract price changes and P&L per scenario. 5. Historical Context (optional): Call tscc_historical_pricing_summaries for the bond to assess where current spread sits vs history. 6. Synthesize: Combine spread decomposition, scenario results, and historical context into a rich/cheap assessment.
Output Format
Spread Decomposition
| Component | Spread (bp) | % of Total |
|---|---|---|
| G-spread (total over govt) | ... | 100% |
| Credit curve spread | ... | ...% |
| Residual (liquidity + technicals) | ... | ...% |
Scenario P&L
| Scenario | Price Change | P&L (per 100 notional) |
|---|---|---|
| -100bp | ... | ... |
| -50bp | ... | ... |
| Base | ... | ... |
| +50bp | ... | ... |
| +100bp | ... | ... |
Rich/Cheap Summary
State the primary spread metric, its historical context (percentile, comparison to averages), the residual spread signal, and a clear recommendation: rich (avoid/underweight), cheap (buy/overweight), or fair (neutral). Quantify how many bp of spread move would change the recommendation.
Related skills
Wind Mcp SkillGive their AI coding agent instant access to comprehensive Chinese and global equity, fund, bond, and macroeconomic data from Wind.63.5k71
Upgrade StripeSafely upgrade their Stripe API version and SDKs without introducing breaking changes.53.1k1.7k
Recipe Create Expense TrackerInstantly create a ready-to-use Google Sheets expense tracker with headers, sample data, and sharing permissions.24.1k30.1k
Backtesting FrameworksCreate realistic event-driven backtesters that simulate order execution, slippage, commissions, and position tracking before committing capital to a trading strategy.13.3k38.4k
Grimoire PolymarketQuery live Polymarket odds, search events, and manage conditional order flow directly from Claude or Cursor without leaving the IDE.11.9k6
CoinglassGive their AI coding agents real-time access to crypto derivatives market data such as funding rates, open interest, long/short ratios, liquidations, and futures OHLC h11.3k21FAQ
How does it isolate richness?
It decomposes G-spread into credit-curve spread and a residual; the residual after rates and credit reveals true richness or cheapness.
What scenarios does it run?
Parallel rate shifts of -100bp, -50bp, base, +50bp, and +100bp via the yieldbook_scenario tool.