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Analyze corporate bonds and credit instruments including investment grade and high yield debt.
Install Fixed Income Corporate
$ npx skills add JoelLewis/finance_skills --skill fixed-income-corporate -a claude-codeProject install by default; add -g for ~/.claude/skills/.
$ gh skill install JoelLewis/finance_skills fixed-income-corporate --agent claude-codeProject scope by default; add --scope user for a personal install. Needs GitHub CLI 2.90.0 or later (public preview).
$ git clone --depth 1 https://github.com/JoelLewis/finance_skills.git skills-src && mkdir -p .claude/skills && cp -r skills-src/plugins/wealth-management/skills/fixed-income-corporate .claude/skills/fixed-income-corporate && rm -rf skills-srcUse ~/.claude/skills/ instead of .claude/skills for a personal install. The folder must contain SKILL.md.
Claude Code skills documentation · loads skills from .claude/skills/
Install the "fixed-income-corporate" agent skill from https://github.com/JoelLewis/finance_skills/tree/main/plugins/wealth-management/skills/fixed-income-corporate into .claude/skills/fixed-income-corporate/ in this project. Copy the whole folder (SKILL.md and every file beside it), keep the folder name "fixed-income-corporate", then confirm the skill loads.Claude Code copies the folder itself, the same result as the manual copy. Check what it changed before you commit it.
$skill-installer install https://github.com/JoelLewis/finance_skills/tree/main/plugins/wealth-management/skills/fixed-income-corporateType this inside Codex. $skill-installer <name> installs a curated skill from openai/skills. The installer writes to $CODEX_HOME/skills (default ~/.codex/skills). Restart Codex if the skill does not show up.
$ npx skills add JoelLewis/finance_skills --skill fixed-income-corporate -a codexProject install goes to .agents/skills/; add -g for ~/.codex/skills/.
$ gh skill install JoelLewis/finance_skills fixed-income-corporate --agent codexProject scope by default (.agents/skills/); add --scope user for a personal install.
$ git clone --depth 1 https://github.com/JoelLewis/finance_skills.git skills-src && mkdir -p .agents/skills && cp -r skills-src/plugins/wealth-management/skills/fixed-income-corporate .agents/skills/fixed-income-corporate && rm -rf skills-srcUse ~/.agents/skills/ instead of .agents/skills for a personal install.
Codex skills documentation · loads skills from .agents/skills/
Install the "fixed-income-corporate" agent skill from https://github.com/JoelLewis/finance_skills/tree/main/plugins/wealth-management/skills/fixed-income-corporate into .agents/skills/fixed-income-corporate/ in this project. Copy the whole folder (SKILL.md and every file beside it), keep the folder name "fixed-income-corporate", then confirm the skill loads.Codex copies the folder itself, the same result as the manual copy. Check what it changed before you commit it.
$ npx skills add JoelLewis/finance_skills --skill fixed-income-corporate -a cursorProject install goes to .agents/skills/; add -g for ~/.cursor/skills/.
$ gh skill install JoelLewis/finance_skills fixed-income-corporate --agent cursorProject scope by default (.agents/skills/); add --scope user for a personal install.
$ git clone --depth 1 https://github.com/JoelLewis/finance_skills.git skills-src && mkdir -p .cursor/skills && cp -r skills-src/plugins/wealth-management/skills/fixed-income-corporate .cursor/skills/fixed-income-corporate && rm -rf skills-srcUse ~/.cursor/skills/ instead of .cursor/skills for a personal install.
Cursor skills documentation · loads skills from .cursor/skills/, .agents/skills/, .claude/skills/, .codex/skills/
Install the "fixed-income-corporate" agent skill from https://github.com/JoelLewis/finance_skills/tree/main/plugins/wealth-management/skills/fixed-income-corporate into .cursor/skills/fixed-income-corporate/ in this project. Copy the whole folder (SKILL.md and every file beside it), keep the folder name "fixed-income-corporate", then confirm the skill loads.Cursor copies the folder itself, the same result as the manual copy. Check what it changed before you commit it.
$ gemini skills install https://github.com/JoelLewis/finance_skills.git --path plugins/wealth-management/skills/fixed-income-corporate--scope user (default) or --scope workspace; --path is the subfolder of the repo that holds the skill; --consent skips the security confirmation prompt.
$ npx skills add JoelLewis/finance_skills --skill fixed-income-corporate -a gemini-cliProject install goes to .agents/skills/; add -g for ~/.gemini/skills/.
$ gh skill install JoelLewis/finance_skills fixed-income-corporate --agent gemini-cliProject scope by default (.agents/skills/); add --scope user for a personal install.
$ git clone --depth 1 https://github.com/JoelLewis/finance_skills.git skills-src && mkdir -p .gemini/skills && cp -r skills-src/plugins/wealth-management/skills/fixed-income-corporate .gemini/skills/fixed-income-corporate && rm -rf skills-srcUse ~/.gemini/skills/ instead of .gemini/skills for a personal install, then run /skills reload.
Gemini CLI skills documentation · loads skills from .gemini/skills/, .agents/skills/
Install the "fixed-income-corporate" agent skill from https://github.com/JoelLewis/finance_skills/tree/main/plugins/wealth-management/skills/fixed-income-corporate into .gemini/skills/fixed-income-corporate/ in this project. Copy the whole folder (SKILL.md and every file beside it), keep the folder name "fixed-income-corporate", then confirm the skill loads.Gemini CLI copies the folder itself, the same result as the manual copy. Check what it changed before you commit it.
$ gh skill install JoelLewis/finance_skills fixed-income-corporateInstalls for Copilot at project scope by default; add --scope user for a personal install. Preview a skill first with gh skill preview. Needs GitHub CLI 2.90.0 or later (public preview).
$ npx skills add JoelLewis/finance_skills --skill fixed-income-corporate -a github-copilotProject install goes to .agents/skills/; add -g for ~/.copilot/skills/.
$ git clone --depth 1 https://github.com/JoelLewis/finance_skills.git skills-src && mkdir -p .github/skills && cp -r skills-src/plugins/wealth-management/skills/fixed-income-corporate .github/skills/fixed-income-corporate && rm -rf skills-srcUse ~/.copilot/skills/ instead of .github/skills for a personal install. Commit .github/skills so cloud agent and code review can use it.
GitHub Copilot skills documentation · loads skills from .github/skills/, .claude/skills/, .agents/skills/
Install the "fixed-income-corporate" agent skill from https://github.com/JoelLewis/finance_skills/tree/main/plugins/wealth-management/skills/fixed-income-corporate into .github/skills/fixed-income-corporate/ in this project. Copy the whole folder (SKILL.md and every file beside it), keep the folder name "fixed-income-corporate", then confirm the skill loads.GitHub Copilot copies the folder itself, the same result as the manual copy. Check what it changed before you commit it.
$ npx skills add JoelLewis/finance_skills --skill fixed-income-corporate -a opencodeOpenCode documents no install command of its own. Project install goes to .agents/skills/; add -g for ~/.config/opencode/skills/.
$ gh skill install JoelLewis/finance_skills fixed-income-corporate --agent opencodeProject scope by default (.agents/skills/); add --scope user for a personal install.
$ git clone --depth 1 https://github.com/JoelLewis/finance_skills.git skills-src && mkdir -p .opencode/skills && cp -r skills-src/plugins/wealth-management/skills/fixed-income-corporate .opencode/skills/fixed-income-corporate && rm -rf skills-srcUse ~/.config/opencode/skills/ instead of .opencode/skills for a personal install.
OpenCode skills documentation · loads skills from .opencode/skills/, .claude/skills/, .agents/skills/
Install the "fixed-income-corporate" agent skill from https://github.com/JoelLewis/finance_skills/tree/main/plugins/wealth-management/skills/fixed-income-corporate into .opencode/skills/fixed-income-corporate/ in this project. Copy the whole folder (SKILL.md and every file beside it), keep the folder name "fixed-income-corporate", then confirm the skill loads.OpenCode copies the folder itself, the same result as the manual copy. Check what it changed before you commit it.
Facts
- Skill name
fixed-income-corporate- GitHub stars
- 206
- Token cost
- ~1.7k tokens
- SKILL.md length
- 810 words
- Files
- 2 (incl. scripts)
- Skills in repo
- 91
- Repo updated
- First seen
- Licence
- MIT
At a glance
Analyze corporate bonds and credit instruments including investment grade and high yield debt.
- The user asks about corporate bonds
- SKILL.md covers Core Concepts, Key Formulas, Worked Examples and Common Pitfalls, plus 2 more sections
- Runs Python scripts from its folder; calls uv, python3 and python
- Credit spreads (OAS
What it does
Fixed Income Corporate is an agent skill from JoelLewis/finance_skills. Analyze corporate bonds and credit instruments including investment grade and high yield debt. Use when the user asks about corporate bonds, credit spreads (OAS, Z-spread, G-spread), credit ratings, default probabilities, callable bonds, or private credit. Also trigger when users mention 'junk bonds', 'fallen angel', 'yield-to-worst', 'covenant analysis', 'CDS spreads', 'recovery rates', 'direct lending', 'mezzanine debt', 'BBB downgrade risk', or ask how to evaluate corporate credit risk.
Its SKILL.md is about 1.7k tokens, which your agent loads only when the skill is triggered. The skill folder holds 2 other files, including scripts (for example `scripts/fixed_income_corporate.py`).
It sits in Business, Finance & HR, covering Banking and insurance. The repository describes itself as: Claude Code skill plugins for financial services — 81 skills across 7 domain plugins covering investment management, compliance, advisory practice, trading, and operations. The licence is MIT.
When your agent uses it
- The user asks about corporate bonds
- Credit spreads (OAS
- Default probabilities
- Users mention junk bonds
Example prompts
- “junk bonds”
- “fallen angel”
- “yield-to-worst”
- “/fixed-income-corporate”
Requirements
- Python 3
What it can do on your machine
Read from SKILL.md and the folder at commit 5c498ea. It shows what the files ask for, not the result of running them.
Tool permissions
Pre-approves nothing: there is no allowed-tools line, so your agent's usual permission prompts apply.
From allowed-tools in the SKILL.md frontmatter.
Runs code
Ships 1 file in scripts/ (Python), which the agent can run.
Shell commands in SKILL.md call:
uvpython3python
From the folder's file list and the shell code blocks in SKILL.md.
Network
No URLs in SKILL.md. Its commands use uv, which can reach the network depending on how they are called.
From URLs in SKILL.md, links to its own repository left out.
Credentials
Names no API keys, tokens, secrets or passwords.
From names ending in _API_KEY, _TOKEN, _SECRET, _KEY or _PASSWORD in SKILL.md.
Context cost
Fixed Income Corporate loads about 1.7k tokens when it runs. Until then it costs about 129 tokens; SKILL.md has 810 words of instructions outside code blocks.
Estimates: characters ÷ 4, the usual rule of thumb; real counts depend on the model's tokenizer. Scripts and assets cost tokens only if the agent reads them.
Safety
Auto-check passed
The automated check found no risky patterns in SKILL.md.
Automated static check — not a guarantee. Review scripts before installing. It scans the text of SKILL.md for risky patterns (piping downloads into a shell, reading credential files, hidden Unicode, destructive commands); the scripts in this folder are not scanned.
SKILL.md
The full file from JoelLewis/finance_skills at commit 5c498ea, republished under its MIT licence (© JoelLewis). 810 words, ~1,731 tokens.
Download SKILL.mdSave it as
.claude/skills/fixed-income-corporate/SKILL.md (or your agent's skills folder). This skill also uses 1 other file; get the full folder from GitHub.- name
- fixed-income-corporate
- description
- Analyze corporate bonds and credit instruments including investment grade and high yield debt. Use when the user asks about corporate bonds, credit spreads (OAS, Z-spread, G-spread), credit ratings, default probabilities, callable bonds, or private credit. Also trigger when users mention 'junk bonds', 'fallen angel', 'yield-to-worst', 'covenant analysis', 'CDS spreads', 'recovery rates', 'direct lending', 'mezzanine debt', 'BBB downgrade risk', or ask how to evaluate corporate credit risk.
Fixed Income — Corporate
Core Concepts
Credit Spreads
Compensation for default risk, liquidity risk, and downgrade risk above the risk-free rate. Multiple spread measures exist with increasing precision:
G-spread (Government Spread): Bond yield minus interpolated Treasury yield of the same maturity. Simple but assumes a flat term structure between benchmark maturities.
Z-spread (Zero-Volatility Spread): The constant spread added to each point on the risk-free spot rate curve such that the sum of discounted cash flows equals the bond's market price. Superior to G-spread because it accounts for the full shape of the term structure.
OAS (Option-Adjusted Spread): For bonds with embedded options, OAS = Z-spread minus the value of the embedded option. OAS represents the "true" credit compensation after removing the option component. Requires an interest rate model to compute.
Credit Ratings
AAA/AA/A/BBB are investment grade. BB/B/CCC/CC/C/D are high yield (speculative grade). The BBB/BB boundary is the most consequential threshold — many institutional mandates prohibit sub-investment-grade holdings. A downgrade across this boundary ("fallen angel") forces selling by constrained investors.
Migration Matrix
A transition matrix shows the probability of moving from one rating to another over a 1-year horizon. A BBB-rated issuer has roughly 85-90% probability of remaining BBB, 4-5% chance of upgrade, 4-5% chance of downgrade, and a small probability (~0.2%) of default. Migration matrices are published annually by rating agencies.
Default Probability, Loss Given Default, and Recovery Rate
- PD = Probability of Default over a given horizon
- LGD = Loss Given Default (percentage of exposure lost)
- Recovery Rate (RR) = 1 - LGD
- Expected Loss: EL = PD × LGD × EAD (Exposure at Default)
Recovery rates vary by seniority: senior secured (60-65%), senior unsecured (40-50%), subordinated (20-30%).
Callable Bonds
The issuer can redeem the bond early. Call schedules specify prices and dates. Yield-to-call (YTC) is calculated using the call date and call price. Yield-to-worst (YTW) is the minimum of YTM and all possible YTCs. For callable bonds, OAS is the appropriate spread measure (not G-spread or Z-spread).
Covenants
Maintenance covenants: Tested periodically (e.g., quarterly). Issuer must maintain financial ratios at all times. Common in bank loans.
Incurrence covenants: Tested only when the issuer takes a specific action (e.g., issues new debt). Common in bond indentures. Key covenants include leverage ratio (Debt/EBITDA), interest coverage (EBITDA/Interest), and restricted payments.
Private Credit
Direct lending by non-bank lenders to middle-market companies. Offers an illiquidity premium of 150-400bp over comparable syndicated loans. Typically features stronger covenant protection than public market deals. Valuations are mark-based (quarterly), which smooths reported volatility.
CDS (Credit Default Swaps)
A derivative where the protection buyer pays a periodic spread and receives payment upon a credit event. CDS spreads can be used to derive market-implied default probabilities. CDS spreads are often more responsive to credit deterioration than bond spreads.
Key Formulas
| Formula | Expression | Use Case |
|---|---|---|
| G-spread | Bond Yield - Interpolated Treasury Yield | Simple spread measure |
| Z-spread | Constant spread s: P = sum CF_t / (1+s_t+s)^t | Full curve spread |
| OAS | Z-spread - Option Cost | Spread for callable bonds |
| Expected Loss | EL = PD × LGD × EAD | Credit loss estimation |
| Recovery Rate | RR = 1 - LGD | Recovery from default |
| Yield-to-Worst | min(YTM, YTC_1, YTC_2, ...) | Conservative yield measure |
Show full SKILL.md (303 more words)Show less
Worked Examples
Example 1: Compare Z-spread vs G-spread
Given: A 7-year corporate bond yields 5.8%. The 7-year interpolated Treasury yield is 4.5%. The Z-spread (computed using the full spot curve) is 118bp. Calculate: G-spread and compare to Z-spread Solution: G-spread = 5.8% - 4.5% = 1.30% = 130bp Z-spread = 118bp The G-spread (130bp) exceeds the Z-spread (118bp) by 12bp. This difference arises because the G-spread uses a single interpolated benchmark point while the Z-spread properly accounts for the shape of the entire yield curve. In a steep curve environment, G-spread tends to overstate the true spread.
Example 2: Expected Loss Calculation
Given: PD = 2% (annual), LGD = 60%, EAD = $1,000,000 Calculate: Expected annual loss Solution: EL = PD × LGD × EAD EL = 0.02 × 0.60 × $1,000,000 EL = $12,000
The expected annual credit loss is $12,000, or 1.2% of the exposure. This represents the actuarial cost of credit risk — the spread must at least cover this expected loss, with additional compensation for unexpected losses and risk aversion.
Common Pitfalls
- Using G-spread for callable bonds — use OAS instead, which removes the option component
- Ignoring liquidity premium in spread analysis — part of the spread compensates for illiquidity, not just default risk
- Rating agency lag vs market-implied credit quality — CDS spreads often move before rating actions
- Assuming recovery rates are constant — they vary significantly by seniority and economic cycle (lower in recessions)
Cross-References
- fixed-income-sovereign (wealth-management plugin): the Treasury curve used as the risk-free benchmark
- fixed-income-structured (wealth-management plugin): CLOs and structured credit products
- alternatives (wealth-management plugin): private credit as an alternative investment
- asset-allocation (wealth-management plugin): credit allocation in multi-asset portfolios
Running the Script
uv run scripts/fixed_income_corporate.py # run the demo (uses PEP 723 inline deps)
uv run scripts/fixed_income_corporate.py --verify # check demo outputs against the worked examples (exit 1 on mismatch)
python3 scripts/fixed_income_corporate.py # alternative (requires: pip install numpy scipy)The demo prints the calculations covered above; its values match the worked examples in this skill. Run --help for a list of the classes and functions. For programmatic use, import the module rather than running it — the demo only executes under python fixed_income_corporate.py.
© JoelLewis, MIT. Rendered from Markdown: HTML in the file is shown as text, images as links, and headings moved down two levels. Raw file
Files
SKILL.md and 1 other file (scripts) in plugins/wealth-management/skills/fixed-income-corporate of JoelLewis/finance_skills.
- SKILL.md
- scripts/fixed_income_corporate.py
Open the folder on GitHubat commit 5c498ea
Compare with similar skills
Fixed Income Corporate next to the 5 skills that share the most tags, products or categories with it. Stars are the repository's; “used in” counts other GitHub owners with a copy.
| Skill | Stars | Used in | Tokens | Auto-check | Licence | Repo updated |
|---|---|---|---|---|---|---|
| Fixed Income Corporate this skillJoelLewis/finance_skills | 206 | — | ~1.7k | Automated safety check: Pass | MIT | |
| Swapper Depositswapperfinance/swapper-toolkit | 852 | — | ~1.8k | Automated safety check: Pass | MIT | |
| Okx Cex Earnokx/agent-skills | 187 | 2 repos | ~3.3k | Automated safety check: Pass | MIT | |
| Buffettdigoal/blog | 8.6k | 1 repos | ~2.7k | Automated safety check: Pass | GPL-2.0 | |
| Solana Payments Wallets Tradingnpc-live/clawfirm | 156 | 1 repos | ~4.7k | Automated safety check: Pass | MIT | |
| Oracle Flashloan Analysisquillai-network/quillshield_skills | 130 | — | ~2.8k | Automated safety check: Pass | MIT |
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Questions about Fixed Income Corporate
What does Fixed Income Corporate do?
Analyze corporate bonds and credit instruments including investment grade and high yield debt. Fixed Income Corporate is an agent skill from JoelLewis/finance_skills. Analyze corporate bonds and credit instruments including investment grade and high yield debt.
When should I use Fixed Income Corporate?
Fixed Income Corporate fits situations like: the user asks about corporate bonds; credit spreads (OAS; default probabilities; users mention junk bonds.
How do I install Fixed Income Corporate in Claude Code?
Run `npx skills add JoelLewis/finance_skills --skill fixed-income-corporate -a claude-code`. Or copy the skill folder (plugins/wealth-management/skills/fixed-income-corporate in JoelLewis/finance_skills) into .claude/skills/fixed-income-corporate in your project. Claude Code loads it when a task matches its description.
How do I install Fixed Income Corporate in Codex?
Run `npx skills add JoelLewis/finance_skills --skill fixed-income-corporate -a codex`. Or copy the skill folder (plugins/wealth-management/skills/fixed-income-corporate in JoelLewis/finance_skills) into .agents/skills/fixed-income-corporate in your project. Codex loads it when a task matches its description.
Can I use Fixed Income Corporate in Cursor, Gemini CLI or GitHub Copilot?
Cursor, Gemini CLI, GitHub Copilot and OpenCode also load SKILL.md folders. With the skills CLI, run `npx skills add JoelLewis/finance_skills --skill fixed-income-corporate -a cursor` (or -a gemini-cli, github-copilot or opencode for the others). To copy it by hand, put the folder in .cursor/skills/fixed-income-corporate, .gemini/skills/fixed-income-corporate, .github/skills/fixed-income-corporate and .opencode/skills/fixed-income-corporate in your project.
What does Fixed Income Corporate need to run?
Going by SKILL.md and its folder, Fixed Income Corporate needs Python for the scripts in its folder and the command-line tools its instructions call (uv, python3 and python). Our summary lists: Python 3.
Does Fixed Income Corporate access the network?
SKILL.md contains no URLs. Its commands use uv, which can reach the network depending on how they are called. This is read from the text; nothing was executed.
Is Fixed Income Corporate safe to install?
Our automated static check of SKILL.md found no risky patterns, such as piping downloads into a shell, reading credential files or hidden Unicode. It is not a guarantee. The check reads SKILL.md only: the scripts in the folder are not scanned, so read them before running anything.
What licence does Fixed Income Corporate use?
Fixed Income Corporate is published under the MIT licence (the repository's licence). It allows redistribution, so the full SKILL.md is shown on this page.
How many tokens does Fixed Income Corporate use?
About 1.7k tokens (SKILL.md is roughly 6.9k characters). Agents keep only the skill's name and description in context until a task matches; then they load SKILL.md in full.
What are the alternatives to Fixed Income Corporate?
Skills that share tags, products or a category with Fixed Income Corporate: Swapper Deposit (swapperfinance/swapper-toolkit, 852 stars), Okx Cex Earn (okx/agent-skills, 187 stars), Buffett (digoal/blog, 8.6k stars) and Solana Payments Wallets Trading (npc-live/clawfirm, 156 stars). The comparison table on this page puts their stars, adoption, token cost, safety result and licence side by side.
Who maintains Fixed Income Corporate?
JoelLewis (a GitHub user) maintains it in JoelLewis/finance_skills, which has 206 GitHub stars. The repository holds 91 skills in this directory. The repository was last updated on July 18, 2026.
Source: JoelLewis/finance_skills on GitHub. Facts on this page come from the repository at the commit we read; the author's words are quoted as theirs.