{
  "brand": "SpreadBench",
  "brand_line": "AI 基建债利差基准",
  "index": "NCSX-Composite",
  "index_full_name": "Neocloud Credit Spread Index",
  "as_of": "2026-10-30",
  "published_at": "2026-11-02T17:30:00-05:00",
  "unit": "basis_points_over_duration_matched_ust",
  "treasury_benchmark_pct": 4.02,
  "levels": {
    "composite": {
      "spread_bp": 773,
      "chg_1d_bp": -6.6,
      "chg_5d_bp": -3.6,
      "chg_30d_bp": -51.2,
      "chg_90d_bp": -0.9,
      "avg_90d_bp": 776,
      "min_90d_bp": 744.4,
      "max_90d_bp": 824.2,
      "vol_90d_bp": 8.7,
      "percentile_90d": 36,
      "constituents": 20,
      "notional_mm": 22850
    },
    "hy": {
      "spread_bp": 865.8,
      "chg_1d_bp": -7.6,
      "chg_5d_bp": -4.3,
      "chg_30d_bp": -59.5,
      "chg_90d_bp": -4.1,
      "avg_90d_bp": 870.7,
      "min_90d_bp": 834.7,
      "max_90d_bp": 925.3,
      "vol_90d_bp": 10,
      "percentile_90d": 34,
      "constituents": 17,
      "notional_mm": 19000
    },
    "ig": {
      "spread_bp": 314.7,
      "chg_1d_bp": -1.9,
      "chg_5d_bp": -0.9,
      "chg_30d_bp": -10.6,
      "chg_90d_bp": 14.9,
      "avg_90d_bp": 308.6,
      "min_90d_bp": 298.5,
      "max_90d_bp": 325.3,
      "vol_90d_bp": 2.7,
      "percentile_90d": 60,
      "constituents": 3,
      "notional_mm": 3850
    }
  },
  "methodology": "v0.1.0",
  "doi": "10.58014/ncsx.2026.v0",
  "license": "CC BY 4.0",
  "source": "FINRA TRACE secondary-market transactions + US Treasury benchmark curve",
  "disclaimer": "Aggregated public secondary trades only. Not a credit rating. Not investment advice."
}