Auto-generated. This article is rebuilt from app/signals/config/signal_definitions.json by scripts/build_signals_kb.py. Edit the registry entry and re-run the script — do not edit this file directly.

Average interest rate (interest-bearing debt)

What it is

Average interest rate (interest-bearing debt) — registry key avg_rate_total_pct.

Weighted-average interest rate carried on total interest-bearing Treasury debt - the interest-cost / refi-drag lever. long-end supply-stress carrier, Phase 3A of improvements/long-end-stress.md; scoring deferred to a pre-registered study.

Data-pyramid tier

T0 — Raw input. This metric sits at the raw input layer of the platform’s six-tier data pyramid (T0 raw inputs → T5 actionable read). The tier reflects how far the value is from a raw measurement — not how strongly it is validated. Abstraction and validation are separate axes: a higher tier is not a claim of stronger evidence.

Horizon & validation

No validated skill horizon is on file for this metric — read it as context / a data carrier, not a validated edge. Stamps are added only when a gated research verdict lands.

Source

Source module: treasury_fiscal
Data source: back_fillable

Fetched directly from app/sources/treasury_fiscal.py; see source code for the upstream API call and any provider-specific handling.

How it’s computed

Latest fd_avg_rate_total_pct from macro_series: avg_interest_rates row where security_type_desc==‘Interest-bearing Debt’ and security_desc==‘Total Interest-bearing Debt’. See app/sources/treasury_fiscal.py:parse_avg_interest_rates.

Where it surfaces

• API field: us_supply.avg_rate_total_pct on GET /api/v1/signals/latest
• Surface: daily_signals row (daily-cadence persistence)

Health-score / alignment role

Data carrier — no implication, no health-score contribution.

Persisted for downstream consumers (sparklines, base-rate matcher, calibration substrate) but does not classify into BULLISH / NEUTRAL / BEARISH and does not contribute to the 0-100 health score.

Release cadence

• Publishes: monthly
• Lag days: 30

US Treasury average interest rates, monthly (month-end).

See also

• /kb/api/get-signals-latest — API endpoint that serves this field.