{"uid":"cap_xxQFjJKoarqbjIxP4ij0J","slug":"stationfx-hy-ig-spread-composite-credit-stress-ab72aa4d","name":"StationFX HY-IG Spread Composite (Credit Stress)","description":"High-yield OAS minus investment-grade OAS — isolates the incremental risk premium for lower-quality credit. Widens when credit stress is concentrated in weaker issuers. Use for credit differentiation analysis and stress regime detection. Pre-computed daily from BofA index data.","url":"https://stationfx.com/economic-data/cross-signal/credit-stress-composite-hy-ig-spread?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":"SERIES_ID"}}},"example":null,"exampleRequest":null,"tags":["x402"],"displayCostAmount":"0.008","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":"$0.008/call","primary":{"kind":"static","protocol":"x402","network":"base","amountUsd":"0.008","per":"call","confidence":"exact"},"accepted":[{"kind":"static","protocol":"x402","network":"base","amountUsd":"0.008","per":"call","confidence":"exact"}]},"paymentMethods":[{"uid":"pm_nkkGgb3flsOESijsZV4_V","protocol":"x402","methodType":"crypto","chain":"base","mode":"charge","costAmount":"0.008","costPer":"request","priority":0,"asset":"0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913","unit":"request","depositMicros":null,"planRef":null}],"brandName":null,"brandSlug":null,"brandBaseUrl":null,"brandDocsUrl":null,"whatItDoes":"Returns the daily spread differential between high-yield and investment-grade OAS, pre-computed from BofA index data, to measure incremental credit risk premium and detect credit stress regimes.","exampleAgentPrompt":"Pull the HY minus IG OAS spread composite from StationFX for the last 90 days — I want to see whether credit stress is widening in weaker issuers and what the current value looks like relative to its 5-year z-score.","exampleUseCases":[{"title":"Credit stress regime detection","prompt":"Is the HY-IG spread signaling elevated credit stress right now? Pull the latest reading from StationFX and tell me how it compares to the past 5-year range — I want the z-score and percentile rank."},{"title":"Fixed income portfolio risk review","prompt":"I'm reviewing my high-yield bond exposure — can you get me the HY minus IG OAS spread data from StationFX for the past 12 months so I can see if the risk premium has been widening or compressing?"},{"title":"Macro credit differentiation trend analysis","prompt":"Pull the StationFX HY-IG spread composite from January 2023 to December 2023 and show me the month-over-month changes and the 3-month rolling average — I want to understand how credit differentiation evolved that year."}],"resultDescription":"A time-series array of daily observations, each containing the raw HY-IG OAS spread value, month-over-month and year-over-year absolute and percentage changes, 12-month and 5-year z-scores, 5-year percentile rank, 3-month and 12-month rolling averages, and an above-trend binary flag. Data is pre-computed daily from BofA index data.","failureModes":["Date range outside available data history returns empty array or error","Invalid date format (non YYYY-MM-DD) causes parameter validation failure","Requesting unavailable field names via 'fields' parameter may return nulls or errors","Payment not processed (x402 unpaid) results in 402 response and no data returned","Requesting future dates returns no data or truncated series"],"whenToPreferThis":"Choose this endpoint when you need a clean, pre-computed daily signal that isolates the incremental credit risk premium of high-yield versus investment-grade bonds, particularly for stress regime detection, credit quality bifurcation analysis, or enriching macro dashboards with fixed-income risk signals. It is preferable over raw OAS feeds when you want normalized z-scores and rolling statistics already computed, and over generic financial stress indices when you specifically need credit-tier differentiation rather than broad market stress.","instructions":null,"reviewSummary":null,"reviewSummaryHighlights":null,"reviewSummaryConcerns":null,"reviewSummaryGeneratedAt":null,"activationCount":0,"lastUsedAt":null,"lastSuccessfullyRanAt":null,"lastHealthCheckAt":"2026-10-02T06:45:53.248Z","isFirstParty":false,"canonicalSlug":"stationfx-hy-ig-spread-composite-credit-stress-ab72aa4d"}