fixed-income-contextlisted

# fixed-income-context You hand over nothing. The skill returns the rates and credit picture via a fixed panel of ETF proxies plus derived spread reads and a plain-English regime label. ETF proxies rather than raw yields so the whole thing runs on any Massive Stocks plan. When you want actual yields, wire in FRED as the primary source and keep this as fallback. ## When to invoke - Any equity workflow that implicitly cares about rates or credit (portfolio-review, valuation-sanity-check, scan-and-frame) - User asks "what are rates doing", "credit stress", "curve", "spreads widening" - Sanity-check before a directional bond ETF trade (TLT, HYG, LQD) ## What you need - `MASSIVE_API_KEY` (Stocks Basic minimum; 9 range-aggs calls) ## What you get back **Layer 1 JSON** matching [`output-schema.json`](./output-schema.json). Per-proxy returns and percentiles, spread deltas, HYG-benchmark correlation, regime label + read, caveats. **Layer 2 rendered brief**. Regime line + proxy table + spread block + correlation read + caveats. See [`references/rendering.md`](./references/rendering.md). ## Regime labels - `risk_off`: credit widening (HYG lagging LQD) AND TLT rallying (long duration bid). Classic flight-to-quality. - `credit_stress`: HY underperforming IG, no rates confirmation yet. - `goldilocks`: rates rallying + HY leading. Easing bid, no fear. - `reflation`: rates selling off + HY leading. Growth on, rates hot. - `rate_pressure`: long end selling off. Watch equity m