Bond Relative Value

OrganizationPopular

anthropics

bond-relative-value

Perform relative value analysis on bonds by combining pricing, yield curve context, credit spreads, and scenario stress testing. Use when analyzing bond richness/cheapness, computing spread decomposition, comparing bonds, assessing bond value vs curves, or running rate shock scenarios.

Overview

Publisher	anthropics
Repository	`financial-services`
Skill name	`bond-relative-value`
Stars	38.4K
Forks	5.5K
Bundled files	Instructions only
License	Apache-2.0
Links	Skill source Repository

Markdown instructions
A SKILL.md file the model loads on demand, so it only costs tokens when a request actually matches.
Works with any LLM
AI skills are plain Markdown, not provider-specific code, so this works with GPT, Claude, Gemini, Grok, or a local model.
Self-contained
Everything the model needs lives in the instructions — no extra files to sync.
Open source
Published by anthropics on GitHub. Read the source before you install it.

Installation

Install the Bond Relative Value AI skill in TypingMind to use it with any LLM, or drop it into another agent that reads SKILL.md.

Install in TypingMind

TypingMind installs a skill straight from its GitHub folder — it reads SKILL.md, bundles the resource files, and stores the result locally.

Open the app and go to Plugins → Skills.
Choose "Install from GitHub".
Paste the skill folder URL below and confirm.
https://github.com/anthropics/financial-services/tree/main/plugins/partner-built/lseg/skills/bond-relative-value
Enable the skill in any chat where you want it available.

Store

Installed

Skills

Add skills

Import one or more skills from a public GitHub folder or a local .skill or .zip archive, or SKILL.md file.

From GitHub URLFrom .skill, .zip, or SKILL.md

GitHub repo or folder

https://github.com/anthropics/financial-services/tree/main/plugins/partner-built/lseg/skills/bond-relative-value

Points to a single skill folder, or any folder that contains multiple skills. Public repos only.

CancelContinue

Plugins → Skills → Add skill → From GitHub URL, then paste the folder URL and press Continue.

Install in another agent

Any agent that reads the Agent Skills format can use this skill — copy the folder into that agent's skills directory.

Claude Code — .claude/skills

git clone --depth 1 https://github.com/anthropics/financial-services.git /tmp/financial-services
mkdir -p .claude/skills
cp -r /tmp/financial-services/plugins/partner-built/lseg/skills/bond-relative-value .claude/skills/bond-relative-value

Restart Claude Code after copying so it picks up the new skill.

Use it in TypingMind

Enable Bond Relative Value in any TypingMind chat and the model takes it from there. Its name and description sit in the system prompt, and the moment a request matches, the model loads the full instructions itself — you never invoke it by hand, and it costs no tokens until it is actually used.

The model loads Bond Relative Value on its own as soon as a request matches it.

Works with any AI model

AI skills are plain Markdown instructions rather than provider-specific code, so Bond Relative Value is not tied to the model it was written for. Install it once in TypingMind and use it with GPT-5, Claude, Gemini, Grok, DeepSeek, Mistral, Llama, or a local model you run yourself — all on your own API keys.

Loaded only when it is needed
The system prompt carries just the name and description. The instructions are fetched on the first matching request, so an idle skill costs nothing.
Switch models mid-chat
Because the skill is instructions rather than code, changing model does not break it — the next model reads the same SKILL.md.

Skill instructions

This is the SKILL.md content the model loads. Read it before installing — a skill is instructions your model will follow.

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

Price the Bond(s): Call bond_price for target and any comparison bonds. Extract yield, Z-spread, duration, convexity, DV01.
Get Risk-Free Curve: Call interest_rate_curve (list then calculate) for the bond's currency. Interpolate at bond maturity to compute G-spread.
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.
Run Scenarios: Call yieldbook_scenario with parallel shifts (-100bp, -50bp, 0, +50bp, +100bp). Extract price changes and P&L per scenario.
Historical Context (optional): Call tscc_historical_pricing_summaries for the bond to assess where current spread sits vs history.
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.

Frequently asked questions

What does the Bond Relative Value AI skill do?

Why use Bond Relative Value on TypingMind?

Because you install it once and use it with any model. Bond Relative Value is plain Markdown rather than provider-specific code, so the same skill runs on GPT-5, Claude, Gemini, Grok, or a local model — and you can switch model mid-chat without it breaking. TypingMind runs on your own API keys, so you pay providers directly instead of a per-seat subscription, and your skills and chats stay in your own storage.

How do I install Bond Relative Value in TypingMind?

Open Plugins → Skills → Install from GitHub in TypingMind and paste https://github.com/anthropics/financial-services/tree/main/plugins/partner-built/lseg/skills/bond-relative-value. TypingMind reads its SKILL.md and installs it as a skill you can enable per chat.

Which AI models can use Bond Relative Value?

Any model you connect in TypingMind. AI skills are plain Markdown instructions rather than provider-specific code, so GPT, Claude, Gemini, Grok, and local models can all load this skill when a request matches it.

How many AI models can I use with Bond Relative Value?

As many as you like. As long as a model supports skills, you can use Bond Relative Value with it — GPT, Claude, Gemini, Grok, DeepSeek, Mistral, Llama and more — all on TypingMind with your own API keys.

Is the Bond Relative Value AI skill free?

Yes. It is published on GitHub by anthropics under the Apache-2.0 license. You only pay your own AI provider for the tokens you use.

What are AI skills?

An AI skill is a reusable instruction bundle that teaches an AI model how to do one specific task. It follows the open Agent Skills format: a SKILL.md file with a name and description, plus any scripts, templates or reference files the model may need. The model reads the instructions only when your request matches the skill, so an installed skill costs nothing until it is used.

How are AI skills different from plugins or MCP servers?

A plugin or MCP server gives a model new tools to call — code that runs somewhere and returns a result. An AI skill gives the model knowledge and process instead: how to approach a task, which steps to follow, what good output looks like. Skills are plain Markdown, so they need no server, no API key and no runtime, and they work with any model.

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Overview

Installation

Install in TypingMind

Install in another agent

Use it in TypingMind

Works with any AI model

Skill instructions

Bond Relative Value Analysis

Core Principles

Available MCP Tools

Tool Chaining Workflow

Output Format

Spread Decomposition

Scenario P&L

Rich/Cheap Summary

Frequently asked questions

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