# ASSET SHIFT Bond U.S. Treasury Exact Raw Binding v0.1

- Fixed: 2026-08-28
- Status: `BINDING_COMPLETE_RAW_INTAKE_NOT_STARTED`
- Bound model: Bond Yield State v0.1
- Result access: blocked

## Exact official identity

The source is the U.S. Department of the Treasury's **Daily Treasury Par Yield Curve Rates** with data type `daily_treasury_yield_curve`. Treasury describes these as official par yields derived from indicative bid-side market quotations obtained from the Federal Reserve Bank of New York at approximately 3:30 PM on business days.

- [Interest Rate Statistics](https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics)
- [Daily Treasury Rates](https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_yield_curve)
- [Daily Treasury Rate Archives](https://home.treasury.gov/resource-center/data-chart-center/interest-rates/daily-treasury-rate-archives)

## Required Raw fields

| Model tenor | CSV identity | XML identity |
|---|---|---|
| 3M | `3 Mo` / case-normalized `3 mo` | `d:BC_3MONTH` |
| 2Y | `2 Yr` / case-normalized `2 yr` | `d:BC_2YEAR` |
| 10Y | `10 Yr` / case-normalized `10 yr` | `d:BC_10YEAR` |
| Date | `Date` / `date` | `d:NEW_DATE` |

The exact three tenors appear in every official archive schema from 1990–1999 through 2020–2023 and in the current-year schema. This is a **schema-presence proof**, not an observation-value Coverage audit.

## Route binding

Historical files are bound as the official decade CSV archives:

- `par-yield-curve-rates-1990-1999.csv`
- `par-yield-curve-rates-2000-2009.csv`
- `par-yield-curve-rates-2010-2019.csv`
- `par-yield-curve-rates-2020-2023.csv`

The combined `1990-2023` file is convenience-only and does not replace the decade-file hashes. Current data is bound to the official CSV/XML feed with `type=daily_treasury_yield_curve`.

## Method boundary

Treasury states that the monotone-convex method replaced the prior quasi-cubic Hermite spline method on **2021-12-06**. That date is a visible Method Break. No historical series may silently splice across it or claim a uniform as-published method without separate evidence.

- [Treasury Yield Curve Methodology](https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology)

## Model boundary

These Raw fields describe nominal yield-curve state. They do not contain a bond price index, coupon income, reinvestment, wealth index or Total Return. Therefore:

- Bond Yield State v0.1: exact official Raw route bound
- Formal Bond Total Return: not established
- Bond v0.30 Duration Proxy: not reused

## Intake and display boundary

No historical or current values were accepted into an immutable ASSET SHIFT Vintage in this step. Each future retrieval must retain exact bytes, URL, UTC retrieval time, HTTP validators where present, byte length, SHA-256, Schema fingerprint, Coverage, missingness and method version. A completed month requires all three tenors on the last official date; otherwise the month is `UNKNOWN` with no interpolation or carry-forward.

Public derived display and commercial scope remain subject to release review. No Raw values, monthly values, Yield State, direction, Backtest/OOS, Forward result or Production classification is authorized by this binding.

## Next locked action

`Equity Official Component Binding`