{"uid":"cap_UGZTW3sO1ylzTwmu-DMtD","slug":"stationfx-3-month-treasury-bill-rate-secondary-market-discount-basis-89fbe637","name":"StationFX 3-Month Treasury Bill Rate (Secondary Market, Discount Basis)","description":"Short-term risk-free rate based on 3-month Treasury bills. Used as the short rate in the NY Fed recession probability model. Liquid, minimal credit risk. Key input for the 10Y-3M yield spread, which has the strongest historical recession prediction record. Daily frequency.","url":"https://stationfx.com/economic-data/interest-rates/3-month-treasury-bill-secondary-market-rate-discount-basis?utm_source=zero.xyz","method":"GET","headers":{},"bodySchema":{"type":"object","$schema":"https://json-schema.org/draft/2020-12/schema","required":["input"],"properties":{"input":{"type":"object","required":["type","method"],"properties":{"type":{"type":"string","const":"http","description":"Always \"http\" for HTTP endpoints"},"method":{"enum":["GET","HEAD","DELETE"],"type":"string","description":"HTTP method. Always GET for StationFX query endpoints"},"queryParams":{"type":"object","properties":{"fmt":{"enum":["json","toon"],"type":"string","description":"Response format. Use toon for compact agent-friendly output."},"fields":{"type":"string","description":"Comma-separated metric names"},"date_to":{"type":"string","description":"End date YYYY-MM-DD"},"date_from":{"type":"string","description":"Start date YYYY-MM-DD"}}}},"additionalProperties":false},"output":{"type":"object","required":["type"],"properties":{"type":{"type":"string","description":"Response format. Always \"json\" (or \"toon\" if fmt=toon was requested)"},"example":{"type":"object","properties":{"data":{"type":"array","items":{"type":"object","properties":{"date":{"type":"string","description":"Observation date YYYY-MM-DD"},"value":{"type":"number","description":"Raw observed value in series units"},"mom_pct":{"type":"number","description":"Month-over-month % change"},"yoy_pct":{"type":"number","description":"Year-over-year % change"},"zscore_5y":{"type":"number","description":"Z-score relative to trailing 5 years"},"mom_change":{"type":"number","description":"Month-over-month absolute change"},"yoy_change":{"type":"number","description":"Year-over-year absolute change"},"zscore_12m":{"type":"number","description":"Z-score relative to trailing 12 months"},"above_trend":{"type":"integer","description":"1 if value is above long-run trend, else 0"},"pct_rank_5y":{"type":"number","description":"Percentile rank over trailing 5 years (0-100)"},"rolling_3m_avg":{"type":"number","description":"3-month rolling average"},"rolling_12m_avg":{"type":"number","description":"12-month rolling average"},"trend_direction":{"type":"integer","description":"Trend: 1 rising, -1 falling, 0 flat"}}},"description":"Observations ordered by date ascending"},"meta":{"type":"object","description":"Series metadata: source_key (FRED series ID), units, frequency (D/W/M/Q/A), date_from, date_to, fields"}},"description":"Station f(x) response with metadata and pre-computed derived metrics"}}}}},"responseSchema":{"type":"json","schema":{"type":"object","properties":{"data":{"type":"array","items":{"type":"object","properties":{"date":{"type":"string","description":"Observation date YYYY-MM-DD"},"value":{"type":"number","description":"Raw observed value in series units"},"mom_pct":{"type":"number","description":"Month-over-month % change"},"yoy_pct":{"type":"number","description":"Year-over-year % change"},"zscore_5y":{"type":"number","description":"Z-score relative to trailing 5 years"},"mom_change":{"type":"number","description":"Month-over-month absolute change"},"yoy_change":{"type":"number","description":"Year-over-year absolute change"},"zscore_12m":{"type":"number","description":"Z-score relative to trailing 12 months"},"above_trend":{"type":"integer","description":"1 if value is above long-run trend, else 0"},"pct_rank_5y":{"type":"number","description":"Percentile rank over trailing 5 years (0-100)"},"rolling_3m_avg":{"type":"number","description":"3-month rolling average"},"rolling_12m_avg":{"type":"number","description":"12-month rolling average"},"trend_direction":{"type":"integer","description":"Trend: 1 rising, -1 falling, 0 flat"}}},"description":"Observations ordered by date ascending"},"meta":{"type":"object","description":"Series metadata: source_key (FRED series ID), units, frequency (D/W/M/Q/A), date_from, date_to, fields"}},"description":"Station f(x) response with metadata and pre-computed derived metrics"},"example":{"data":[{"date":"2024-01-01","value":5.33,"mom_pct":0,"yoy_change":0.5,"zscore_12m":1.2,"trend_direction":1}],"meta":{"frequency":"M","source_key":"TB3MS"}}},"example":null,"exampleRequest":null,"tags":["x402"],"displayCostAmount":"0.005","displayCostAsset":"USDC","priceDynamic":false,"priceHint":null,"priceStatus":"priced","priceSource":"probe","requiresHandshake":false,"reviewCount":0,"rating":{"score":"0.00","successRate":"0.00","reviews":0,"stars":null,"state":"unrated"},"availabilityStatus":"unknown","priceObserved":null,"sessionDeposit":null,"pricing":{"kind":"static","summary":"$0.005/call","primary":{"kind":"static","protocol":"x402","network":"base","amountUsd":"0.005","per":"call","confidence":"exact"},"accepted":[{"kind":"static","protocol":"x402","network":"base","amountUsd":"0.005","per":"call","confidence":"exact"}]},"paymentMethods":[{"uid":"pm_gB3styDwza3KNdGYEtegb","protocol":"x402","methodType":"crypto","chain":"base","mode":"charge","costAmount":"0.005","costPer":"request","priority":0,"asset":"0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913","unit":"request","depositMicros":null,"planRef":null}],"brandName":null,"brandSlug":null,"brandBaseUrl":null,"brandDocsUrl":null,"whatItDoes":"Retrieves daily 3-month Treasury bill secondary market rate on a discount basis, the short-rate input used in the NY Fed recession probability model and the 10Y-3M yield spread.","exampleAgentPrompt":"Pull the 3-month Treasury bill secondary market rate for the last 30 days in JSON format so I can compute the current 10Y-3M yield spread for a recession probability estimate.","exampleUseCases":[{"title":"Recession probability model input","prompt":"I need the 3-month T-bill rate from January 2023 through today in JSON format — I'm feeding it into the NY Fed yield curve recession model alongside the 10-year Treasury yield."},{"title":"Yield curve inversion monitoring","prompt":"What's the current 3-month Treasury bill rate, and has it been above or below its 5-year historical average recently? I want to track whether the yield curve is still inverted."},{"title":"Risk-free rate for financial model","prompt":"Fetch the daily 3-month T-bill rate for the past 6 months — I need a daily risk-free rate series for a Sharpe ratio calculation I'm building."}],"resultDescription":"Returns a JSON array of daily observations, each containing the raw rate value, month-over-month and year-over-year absolute and percentage changes, trailing 5-year and 12-month z-scores, percentile rank over 5 years, 3-month and 12-month rolling averages, and an above-trend binary flag. When fmt=toon is specified, returns a compact agent-friendly representation.","failureModes":["Date range with no available data returns empty array","Invalid date format in date_from or date_to returns error","Invalid fmt enum value returns error","Future dates may return no data if not yet published","Payment failure (x402) if USDC balance is insufficient"],"whenToPreferThis":"Choose this endpoint when you need the short end of the U.S. yield curve — specifically the 3-month T-bill rate on a discount basis — for recession probability modeling (NY Fed model), yield spread calculations (10Y-3M), or any analysis requiring a liquid, near-risk-free short rate with pre-computed statistical context (z-scores, percentile ranks, rolling averages). Prefer this over generic FRED lookups when you want enriched derived metrics alongside the raw rate in a single call.","instructions":null,"reviewSummary":null,"reviewSummaryHighlights":null,"reviewSummaryConcerns":null,"reviewSummaryGeneratedAt":null,"activationCount":0,"lastUsedAt":null,"lastSuccessfullyRanAt":null,"lastHealthCheckAt":"2026-10-02T06:43:13.795Z","isFirstParty":false,"canonicalSlug":"stationfx-3-month-treasury-bill-rate-secondary-market-discount-basis-89fbe637"}