# Fewshot Attempt 03 > Asteria Investment Office — Operational Skill - Skill: `prism-shadow/fewshot-attempt-03-34` (Agent Skill) - Install (CLI): `npx skillmds@latest add prism-shadow/fewshot-attempt-03-34` - Raw SKILL.md: https://api.skillmd.com/api/skills/prism-shadow/fewshot-attempt-03-34/raw - Safety review: pending - Works with: Claude Code, Claude.ai, OpenAI Codex - Category: Coding & Dev Tools - Author: prism-shadow (https://skillmd.com/u/prism-shadow) - Updated: 2026-09-17 - Page: https://skillmd.com/skills/prism-shadow/fewshot-attempt-03-34 --- # Asteria Investment Office — Operational Skill ## Environment All tasks use the shared Asteria API at `http://34.46.77.124:8010`. Treat the API as the **current book of record**. Local payload files (in `input/payloads/`) are intake context — they may contain **stale marks, outdated worksheets, or pre-refresh preferences**. When the API and a local payload disagree, the API wins. The current environment `as_of_date` is **2026-05-29**. Always set `as_of_date` to this value in outputs. Set `data_precedence` to `"current_environment_over_stale_payload"` whenever the local payload contains stale/older data that the API supersedes. ### Key endpoints | Endpoint | Use | |---|---| | `GET /api/catalog` | Inventory of all IDs (bonds, indices, issuers, portfolios, policies, opportunity sets) | | `GET /api/portfolios` | List all portfolios with metadata, constraint policy, and current MV | | `GET /api/portfolios/` | Full portfolio detail including holdings (instrument_id, quantity_usd_m, sleeve, asset_class, notes) | | `GET /api/instruments/bonds` | Bond master: instrument_id, issuer_id, rating, rating_bucket (IG/HY), modified_duration_years, yield_to_maturity_pct, coupon_pct, maturity, sector, subsector, spread_bps, candidate flag, energy_linked flag, recommended_theme_tags | | `GET /api/issuers` | Issuer master: issuer_id, issuer_name, sector, subsector, rating_bucket, credit_outlook, watchlist flag, research_tags | | `GET /api/indices` | Index metadata: index_id, display_name, region, currency, frequency, level date range | | `GET /api/index-levels` | All index monthly levels (12 points: 2025-05-30 through 2026-04-30) | | `GET /api/index-levels/` | Single index levels | | `GET /api/policies` | All policy thresholds including allocation mapping, correlation defaults, credit defaults, credit risk reduction, multi-asset defaults | | `GET /api/allocation/opportunity-sets` | Opportunity-set taxonomy (opportunity_set, asset_class, sub_asset_class, display_order) | | `GET /api/allocation/prior-views` | Prior-quarter views (opportunity_set, quarter, previous_quarter, view, conviction) — key for computing `change` | | `GET /api/macro-signals` | Q2/Q3 2026 signal scores per opportunity_set (score, rationale_code, drivers, quarter) | | `GET /api/market/energy` | Energy commodity signals and pitch themes | --- ## Workflow: Always start by reading the API 1. **Fetch `/api/catalog`** to orient on available IDs. 2. **Read the answer template** (`input/payloads/answer_template.json`) for the required output shape, key names, enum values, ordering rules, and numeric precision. 3. **Read the payload** (desk request, review request, allocation request, risk memo, committee request) for the task's scope — which portfolio, which instruments/indices/opportunity-sets are in play, and any stale data warnings. 4. **Fetch the portfolio** (`/api/portfolios/`) for current holdings and constraint policy. 5. **Fetch the relevant policy** (`/api/policies`) — the portfolio's `constraint_policy_id` tells you which thresholds apply. 6. **Fetch supporting data** (bonds, issuers, indices, index-levels, macro-signals, prior-views, opportunity-sets) relevant to the task. --- ## Task archetypes and computation rules ### A. Credit trade / rebalance (bond portfolios) **Selecting bonds:** - Prefer bonds where `candidate: true`. - For energy-linked mandates, prefer `energy_linked: true`. - Avoid issuers where `watchlist: true` (from `/api/issuers`). If the task requires avoiding watchlist buys, never propose a BUY for a watchlisted issuer's bonds. - If the task requires selling watchlist positions, identify holdings whose issuer has `watchlist: true`. - For income/carry objectives, prefer higher `yield_to_maturity_pct` while respecting constraint policy. **Post-trade metrics — key formulas:** **total_market_value_usd_m** (precision 1 or 2, follow template): ``` = sum of all holding market values after proposed trades = current portfolio MV + net new buy notional (for buy-only) = current portfolio MV (for rotation/rebalance — MV is preserved unless funded) ``` For a rotation (sell to fund buy), total MV stays at the pre-trade level. For a buy package funded from new sleeve allocation, total MV = pre-trade MV + total buy notional. **HY allocation pct** (precision 2): ``` hy_allocation_pct = (sum of HY-bucket holding quantities) / total MV * 100 ``` Where HY bucket = bonds whose `rating_bucket` is `"HY"` in the bond master. **weighted_modified_duration_years** (precision 2): ``` weighted_duration = sum(quantity_i / total_MV * duration_i) for all holdings ``` **weighted_yield_to_maturity_pct** (precision 2): ``` weighted_YTM = sum(quantity_i / total_MV * YTM_i) for all holdings ``` **hy_reduction_pct_points** (precision 2): ``` hy_reduction = pre_trade_hy_pct - post_trade_hy_pct ``` **post_trade_watchlist_exposure_usd_m** (precision 1): ``` = sum of quantities of all holdings whose issuer has watchlist: true after trades ``` **Constraint checks (booleans):** - **hy_cap_pass**: `post_trade_hy_allocation_pct <= max_hy_allocation_pct` (from policy) - **duration_band_pass**: `duration_band_years[0] <= post_trade_duration <= duration_band_years[1]` - **selected_issuer_diversification_pass**: no single issuer among the BUY selections exceeds `issuer_concentration_limit_pct` of total MV (check if any issuer appears on more than one selected ticket) - **selected_subsector_diversification_pass**: at least `subsector_min_count_for_diversified` distinct subsectors among BUY selections - **watchlist_avoidance_pass**: no BUY ticket is for a watchlisted issuer - **target_hy_reduction_met**: `hy_reduction_pct_points >= target_hy_reduction_pct` from policy - **watchlist_exposure_cleared**: `post_trade_watchlist_exposure == 0` **Trade ordering in output:** - Template specifies the rule. Common patterns: SELL before BUY, then alphabetical by `instrument_id` within each action group. Or: sort ascending by `instrument_id`. --- ### B. Equity correlation review **Computing Pearson correlation from index levels:** 1. Filter index levels to the review window (from `level_start_date` through `level_end_date`). Both endpoints are included — the first date is the base for the first return. 2. Compute **monthly simple returns** for each index: ``` r_t = (level_t / level_{t-1}) - 1 ``` where `t` and `t-1` are consecutive monthly observation dates. 3. The number of return observations = number of level dates minus 1. 4. Compute **Pearson correlation** between each pair of return series. Round to **3 decimal places**. 5. Include all requested indices in `index_set`, sorted alphabetically. **Extreme pairs:** - **highest_positive**: the pair with the largest positive correlation (closest to +1.0). If ties, pick alphabetically. - **lowest**: the pair with the most negative correlation (closest to -1.0). This is the *lowest* numeric value, not the lowest absolute value. - Each pair's index IDs must be sorted alphabetically within the pair. **Concentration / dependence check:** - Compare the highest correlation against `correlation_high_threshold` (default 0.8 from `POL_CORRELATION_DEFAULT`). - `china_asia_dependence_flag`: true if the China-related pair exceeds the high threshold AND involves IDX_CHINA + an Asia/Emerging index. - `high_threshold_breached`: true if any pair exceeds `correlation_high_threshold`. - `primary_code`: `"CHINA_ASIA_DEPENDENCE"` if China concentration is the primary concern, `"GLOBAL_DEVELOPED_OVERLAP"` for developed-market overlaps, `"NO_MATERIAL_CONCENTRATION"` if no threshold breached. **Diversification candidates:** - Indices that appear in the lowest-correlation pair (the best diversifier) OR that have pairwise correlations below `correlation_low_threshold` (default 0.2). Sorted alphabetically. **Sleeve actions:** - For concentrated sleeves: `"trim"`. - For diversification candidates: `"add"`. - Sorted alphabetically by `sleeve` name (or by the order in the template). --- ### C. Allocation view refresh **Determining active view (`UW` / `N` / `OW`):** From `/api/policies` → `allocation_mapping.view_score_thresholds`: - `score >= OW_min` (0.35) → `"OW"` - `score <= UW_max` (-0.35) → `"UW"` - Otherwise → `"N"` **Determining conviction (`LOW` / `MEDIUM` / `HIGH`):** From `/api/policies` → `allocation_mapping.conviction_thresholds`: - `|score| >= HIGH_abs_min` (0.7) → `"HIGH"` - `|score| >= MEDIUM_abs_min` (0.35) → `"MEDIUM"` - Otherwise → `"LOW"` **Determining change (`UP` / `DOWN` / `UNCHANGED`):** Compare current view to prior-quarter view (from `/api/allocation/prior-views`): - Map views to ranks: UW = -1, N = 0, OW = +1 (from `view_rank` in policy). - If current rank > prior rank → `"UP"` - If current rank < prior rank → `"DOWN"` - If equal → `"UNCHANGED"` **Rationale code:** - Use the `rationale_code` from `/api/macro-signals` for the given opportunity_set and target quarter. - The signal score column is also the `signal_score` field (precision 3). **Prior view:** - From `/api/allocation/prior-views`: look up the `view` for the opportunity_set where `previous_quarter` matches the task's prior quarter. - **Important**: The prior-views endpoint returns entries where `quarter` is the target quarter and `previous_quarter` is the prior quarter. Match on both `opportunity_set` and `previous_quarter`. **Risk overlay:** - Select the overlay whose `primary_action` best matches the dominant tilt across views: - `"DURATION_QUALITY_TILT"` / `"tilt_to_duration_quality"` — when OW duration/IG, UW HY - `"CREDIT_RISK_REDUCTION"` / `"trim_credit_beta"` — when reducing credit risk - `"EQUITY_BETA_EXTENSION"` / `"add_cyclical_equity_beta"` — when adding equity exposure - `"CURRENCY_DEFENSIVE_HEDGE"` / `"add_currency_hedge"` — when hedging currency - `"NO_OVERLAY"` / `"hold_policy_weights"` — when no significant tilt - `rationale_codes`: List the rationale codes of the views that drive the overlay decision, in business priority order (strongest/clearest signal first). **Ordering:** - `allocation_views` list: follow the order of `focus_opportunity_sets` from the request payload (not alphabetical). - `rationale_codes` list: business priority order, highest priority first. --- ### D. Multi-asset committee (hybrid: correlation + allocation) This archetype combines correlation review and allocation views into a single JSON. **Correlation summary:** - Compute Pearson correlations on the subset of indices named in the request. - `highest_concentration`: the pair with the highest positive correlation. - `best_diversifier`: the pair with the lowest (most negative) correlation. - Pairs sorted alphabetically within each `pair` list. **Target sleeve actions:** - Based on correlation findings and allocation views: `"trim"` concentrated sleeves, `"add"` diversifying sleeves, `"hedge"` currency sleeves with negative signals. **Allocation views for each opportunity set:** - Include `prior_view` (from `/api/allocation/prior-views`), `signal_score` (from `/api/macro-signals`), `view` (derived from score), `change` (vs prior), `conviction` (from score magnitude), `rationale_code` (from macro-signals). - Round `signal_score` to 3 decimal places. **Rebalance trigger:** - `"correlation_cap_breach"` — when a correlation pair exceeds the high threshold. - `"hy_cap_pressure"` — when HY allocation is near/above cap. - `"duration_drift"` — when duration is outside the band. - `"watchlist_concentration"` — when watchlist exposure is material. - `"committee_review"` — when escalated for general review. **portfolio_risk_concentration_flag:** `true` when any material concentration or threshold breach is identified. **next_step:** `"approve_with_monitoring"` when there are actions but no hard constraint breach; `"approve_rotation"` for clean rotations; `"defer_pending_risk_review"` when material risks need further review; `"reject_constraint_breach"` for hard breaches. --- ## Precision rules (by field type) | Data type | Precision | Example | |---|---|---| | `notional_usd_m` / `quantity_usd_m` | 1 decimal | `4.0`, `12.0` | | `total_market_value_usd_m` | Check template: 1 or 2 decimals | `68.0` or `78.00` | | `hy_allocation_pct` | 2 decimals | `13.24` | | `weighted_modified_duration_years` | 2 decimals | `3.28` | | `weighted_yield_to_maturity_pct` | 2 decimals | `5.80` → `5.8` (trailing zeros omitted per template; follow template's actual output format) | | `hy_reduction_pct_points` | 2 decimals | `25.64` | | `post_trade_watchlist_exposure_usd_m` | 1 decimal | `0.0` | | `correlation` | 3 decimals | `0.974`, `-0.825` | | `signal_score` | 3 decimals | `-0.373`, `0.732` | | `return_observations` | integer | `11` | **Critical**: Match the precision declared in the template's `properties` for each field. If the template says `precision: 2` for a field and the answer for train_001 shows `5.8` not `5.80`, the format strips trailing zeros — match the number of significant decimal places shown in the template specification but don't pad trailing zeros unless the template explicitly formats them. --- ## Ordering rules 1. **Trade lists**: SELL before BUY, then alphabetical by `instrument_id` within each action group. If the template says "sort ascending by instrument_id" without action grouping, sort globally. 2. **Index lists**: Always alphabetical ascending by index ID (`IDX_...`). 3. **Pair IDs**: Both IDs within a pair sorted alphabetically. 4. **Allocation views**: Follow the order in the request payload's `focus_opportunity_sets` or the template's `item_order`. 5. **Sleeve actions**: Alphabetically by `sleeve` name, or by template's `item_order`. 6. **Diversification candidates**: Alphabetically by index ID. 7. **Watchlist sell IDs**: Alphabetically by instrument ID. 8. **Rationale codes in risk_overlay**: Business priority order, highest/c strongest signal first. --- ## Enumeration conventions - **Actions**: `BUY`, `SELL`, `HOLD`, `NO_TRADE` - **Sleeve actions**: `trim`, `add`, `hold`, `hedge`, `monitor`, `rotate` - **Views**: `UW` (underweight), `N` (neutral), `OW` (overweight) - **Change**: `UP`, `DOWN`, `UNCHANGED` - **Conviction**: `LOW`, `MEDIUM`, `HIGH` - **Rating buckets**: `IG` (investment grade: AAA through BBB-), `HY` (high yield: BB+ and below) - **Data precedence**: `current_environment_over_stale_payload`, `local_payload_over_current_environment`, `no_conflict_found` - **Sales target segments**: `insurance_general_account`, `pension_liability_matching`, `multi_asset_income`, `private_bank_income`, `endowment_opportunistic` - **Themes**: `lng_export_tailwind`, `oil_oversupply_caution`, `midstream_stability`, `transition_bond_selectivity`, `avoid_watchlist_yield_trap` - **Risk note codes**: `hy_cap_pressure`, `watchlist_concentration`, `duration_preservation`, `carry_tradeoff`, `no_action` - **Rebalance triggers**: `correlation_cap_breach`, `hy_cap_pressure`, `duration_drift`, `watchlist_concentration`, `committee_review` - **Next steps**: `approve_rotation`, `defer_pending_risk_review`, `approve_with_monitoring`, `reject_constraint_breach` - **Correlation concentration codes**: `CHINA_ASIA_DEPENDENCE`, `GLOBAL_DEVELOPED_OVERLAP`, `NO_MATERIAL_CONCENTRATION` - **Overlay codes**: `DURATION_QUALITY_TILT`, `CREDIT_RISK_REDUCTION`, `EQUITY_BETA_EXTENSION`, `CURRENCY_DEFENSIVE_HEDGE`, `NO_OVERLAY` - **Primary actions**: `tilt_to_duration_quality`, `trim_credit_beta`, `add_cyclical_equity_beta`, `add_currency_hedge`, `hold_policy_weights` --- ## Common pitfalls 1. **Stale payload data**: The local payload may have stale marks, old quantities, or outdated worksheet snapshots. Always reconcile against the API's current portfolio and instrument records. The stale snapshot is intake context — not the source of truth. 2. **Wrong policy**: Each portfolio has a `constraint_policy_id`. Credit default (`POL_CREDIT_DEFAULT`) and credit risk reduction (`POL_CREDIT_RISK_REDUCTION`) have different `target_hy_reduction_pct` values (0.0 vs 4.0). Multi-asset policies (`POL_MULTI_ASSET_DEFAULT`, `POL_MULTI_ASSET_RISK`) stack sub-policies. Always check which policy applies. 3. **Correlation window**: The window is `level_start_date` through `level_end_date` inclusive at both ends. The number of return observations = (number of levels) - 1. A 12-date window yields 11 return observations. Use only the dates within the window — do not include earlier or later observations. 4. **Simple returns, not log returns**: The formula is `(L_t / L_{t-1}) - 1`, not `ln(L_t / L_{t-1})`. 5. **HY classification**: HY is determined by `rating_bucket`, not by the spread or yield. A BB bond is HY even if its spread is modest. 6. **Weighted metrics are market-value-weighted**: Each holding's contribution to portfolio duration or YTM is proportional to its quantity divided by total portfolio market value. 7. **Change direction**: Compare current view rank minus prior view rank. If prior was N (0) and current is OW (+1), that's UP. If prior was OW (+1) and current is N (0), that's DOWN. 8. **Signal score vs conviction**: Signal score determines the view AND conviction independently. View uses the signal score threshold (±0.35). Conviction uses the absolute signal score magnitude (≥0.7 = HIGH, ≥0.35 = MEDIUM, else LOW). 9. **Post-trade MV for rotation**: In a rotation (sell to fund buy), total MV does NOT change — you are swapping one set of holdings for another. In a new-money buy, total MV = current MV + new buy notional. 10. **Watchlist avoidance is per issuer**: The `/api/issuers` endpoint has the `watchlist` boolean. If any issuer is watchlisted, all its bonds are off-limits for BUY actions when watchlist avoidance is required. 11. **Output template is authoritative**: Always read the template JSON for exact key names, required fields, enum values, and ordering rules. Templates differ between tasks even within the same archetype. 12. **Trailing zeros in JSON numbers**: Python's `json.dumps` may output `5.8` for a float `5.80`. If the template requires exactly 2 decimal places (precision: 2), you may need to format the number as `5.8` (minimal representation) or `5.80` (padded). Follow the convention shown in the template's answer examples — train outputs show minimal decimal representation (e.g., `5.8` not `5.80`).