alphacouncil-agent 0.9.4 → 1.0.0

package/knowledge/solo-test/masters/master_lynch/manifest.json

@@ -17,6 +17,10 @@
     ],
     "native_decision_schema": "category_story_decision_v1",
     "optional_fact_types": [
+      "financial.net_margin_5y",
+      "financial.leverage",
+      "company.category",
+      "business.two_minute_story",
       "financial.growth_rate",
       "valuation.peg_contextual",
       "financial.inventory",
@@ -24,8 +28,10 @@
       "cycle.position"
     ],
     "required_fact_types": [
-      "company.category",
-      "business.two_minute_story"
+      "market.price",
+      "capital_allocation.share_count",
+      "financial.free_cash_flow_5y",
+      "valuation.revenue_growth"
     ]
   },
   "components": {
@@ -46,8 +52,8 @@
   "computation": {
     "dsl_version": "1.1",
     "pipeline": [
-      "master_lynch.category_classifier",
-      "master_lynch.story_numbers_check"
+      "master_lynch.market_capitalisation",
+      "master_lynch.growth_justified_capitalisation"
     ]
   },
   "decision": {
@@ -55,8 +61,10 @@
     "common_projection": "common_stance_v1",
     "confidence_calibrator": null,
     "eligibility": [
-      "company.category",
-      "business.two_minute_story"
+      "market.price",
+      "capital_allocation.share_count",
+      "financial.free_cash_flow_5y",
+      "valuation.revenue_growth"
     ],
     "hard_vetoes": [
       "master_lynch.category_error",

package/knowledge/solo-test/masters/master_lynch/provisional-index.json

@@ -16,7 +16,7 @@
   ],
   "experiment_pass_count": 0,
   "formula_approval_binding_count": 0,
-  "formula_compilation_manifest_hash": "sha256:7265b10a67bd0437af02572176793ef0b8529e48437edc5a2e0b1b1b9fbe73d0",
+  "formula_compilation_manifest_hash": "sha256:fc8afd469d9cafccccc4221622ccde5061167c538ab6472eecaaf65efce5461b",
   "method_model_eligible": false,
   "native_states": [
     "provisional_story_invalid",
@@ -26,8 +26,8 @@
   ],
   "persona_id": "master_lynch",
   "planned_tool_ids": [
-    "master_lynch.category_classifier",
-    "master_lynch.story_numbers_check"
+    "master_lynch.market_capitalisation",
+    "master_lynch.growth_justified_capitalisation"
   ],
   "production_eligible": false,
   "review_status": "not_human_reviewed",

package/knowledge/solo-test/masters/master_lynch/sources.jsonl

@@ -1 +1 @@
-{"adjudication":{"notes":"No human review, no named-method attribution, no production effect.","reviewer_ids":[],"status":"pending"},"author":"AlphaCouncil project build specification","content_hash":"sha256:79da40245857da94982de15496194cede2210f60b684b8b7e90be6ab618fca72","grade":"E","known_at":"2026-07-27","locator":{"section":"master_lynch"},"public_at":"2026-07-27","published_at":"2026-07-27","retrieved_at":"2026-07-27","schema_version":1,"source_id":"proxy:68711236c84ce159a","source_kind":"derived_proxy","summary":"Project-authored provisional proxy used only to exercise the deterministic solo-test build; it is not source approval or method attribution.","supports":["solo_test_structure","deterministic_execution_only"],"title":"Provisional project-derived method hypothesis for master_lynch","url":"https://github.com/Zhao73/alphacouncil-agent/blob/main/data/persona-v3-build-specs.v1.mjs"}
+{"adjudication":{"notes":"No human review, no named-method attribution, no production effect.","reviewer_ids":[],"status":"pending"},"author":"AlphaCouncil project build specification","content_hash":"sha256:bf3b5ad6d4fed0674c7adcc1aeaa9366989948781972d16757d8e21bf9cb4862","grade":"E","known_at":"2026-07-27","locator":{"section":"master_lynch"},"public_at":"2026-07-27","published_at":"2026-07-27","retrieved_at":"2026-07-27","schema_version":1,"source_id":"proxy:68711236c84ce159a","source_kind":"derived_proxy","summary":"Project-authored provisional proxy used only to exercise the deterministic solo-test build; it is not source approval or method attribution.","supports":["solo_test_structure","deterministic_execution_only"],"title":"Provisional project-derived method hypothesis for master_lynch","url":"https://github.com/Zhao73/alphacouncil-agent/blob/main/data/persona-v3-build-specs.v1.mjs"}

package/knowledge/solo-test/masters/master_lynch/tools.json

@@ -1,11 +1,11 @@
 [
   {
     "assurance_class": "provisional_derived_proxy",
-    "derivation_evidence_hash": "sha256:ec8059d59b7430391aeb4e5942bf4f5ff41cc30edeeab5834e61494ca18404f3",
-    "derivation_spec_hash": "sha256:aa0c1ec29f8a57137dedde34a35ed0ecd9336ec63cfdabcfd8cda7b8ee605b9c",
-    "derivation_spec_id": "master_lynch.category_classifier.prototype_v1.derived_proxy_v1",
+    "derivation_evidence_hash": "sha256:52a7c3bd87531c34f627feaaddc932931c805248ddd4088fe815972a9244a69a",
+    "derivation_spec_hash": "sha256:f45b9f6cb098d893f2f5d90d47f09b57b8f60ddc3f11cc6e909166ec93216013",
+    "derivation_spec_id": "master_lynch.market_capitalisation.prototype_v1.derived_proxy_v1",
     "dsl_version": "1.1",
-    "id": "master_lynch.category_classifier",
+    "id": "master_lynch.market_capitalisation",
     "input_contracts": [
       {
         "on_missing": "fail",
@@ -14,45 +14,78 @@
           "basis": "instant",
           "window": null
         },
-        "unit": "derived_proxy_scalar",
-        "value_kind": "scalar"
+        "unit": "currency_units",
+        "value_kind": "monetary"
+      },
+      {
+        "on_missing": "fail",
+        "period": {
+          "alignment": "as_of",
+          "basis": "duration",
+          "window": "P1Y"
+        },
+        "unit": "shares",
+        "value_kind": "count"
       }
     ],
-    "input_schema_hash": "sha256:9f24861b5aff9f95a4870056b3148936f0aa48b33a3fbb2dae716e423326376b",
+    "input_schema_hash": "sha256:014fc15523fc0e43ed8a00eb0a919906f0fa8bf32f9a03da70c609cc722d249b",
     "inputs": [
       {
-        "fact_id": "company.category"
+        "fact_id": "market.price"
+      },
+      {
+        "fact_id": "capital_allocation.share_count"
       }
     ],
     "intended_use": "local_test_only",
-    "kind": "transform",
+    "kind": "recomputation",
     "on_missing": "fail",
-    "operation": "identity",
-    "output_id": "company.category",
+    "operation": "multiply",
+    "output_id": "valuation.market_capitalisation.master_lynch",
     "output_period": {
       "alignment": "as_of",
       "basis": "instant",
       "window": null
     },
-    "output_schema_hash": "sha256:9d57c038f8c0e17cdee4e8d96734f0185b064fb0fd271354076a44f1f63a7833",
+    "output_schema_hash": "sha256:e9720490d54bd7418bae25eac0bbaffd044e45d519ce743e57feb8bd1e96597f",
     "production_eligible": false,
     "review_status": "not_human_reviewed",
     "schema_version": 1,
     "source_ids": [
       "proxy:68711236c84ce159a"
     ],
-    "unit": "derived_proxy_scalar",
-    "value_kind": "scalar",
-    "version": "0.1.0"
+    "unit": "currency_units",
+    "value_kind": "monetary",
+    "version": "0.2.0"
   },
   {
     "assurance_class": "provisional_derived_proxy",
-    "derivation_evidence_hash": "sha256:16444f202d22db621380b6fe236bbeb096f5e509c3004039203efa787795e0ba",
-    "derivation_spec_hash": "sha256:d5e0f9448a65eaaeafb4e6666b4b847eb405674d42c509def6da97ff84f681f6",
-    "derivation_spec_id": "master_lynch.story_numbers_check.prototype_v1.derived_proxy_v1",
+    "derivation_evidence_hash": "sha256:1dfb12c46177bc62e3ae887947e46083f14098f735ad295a060e032047cfa1ec",
+    "derivation_spec_hash": "sha256:8853906f825f28224238ef6f616eb3609f1249a6050d7bf1f67946c38afe948b",
+    "derivation_spec_id": "master_lynch.growth_justified_capitalisation.prototype_v1.derived_proxy_v1",
     "dsl_version": "1.1",
-    "id": "master_lynch.story_numbers_check",
+    "id": "master_lynch.growth_justified_capitalisation",
     "input_contracts": [
+      {
+        "on_missing": "fail",
+        "period": {
+          "alignment": "as_of",
+          "basis": "duration",
+          "window": "P5Y"
+        },
+        "unit": "currency_units",
+        "value_kind": "monetary"
+      },
+      {
+        "on_missing": "fail",
+        "period": {
+          "alignment": "as_of",
+          "basis": "duration",
+          "window": "ANY"
+        },
+        "unit": "decimal",
+        "value_kind": "ratio"
+      },
       {
         "on_missing": "fail",
         "period": {
@@ -64,31 +97,37 @@
         "value_kind": "scalar"
       }
     ],
-    "input_schema_hash": "sha256:5a39f4d04f823d38630334afd289d34ef3f24c064c0e7a7cdca50f5d0fc91ca6",
+    "input_schema_hash": "sha256:3615ba32b04be656a5c7ea107d33a6389ef3f338da4b3d31c9e9c164bdad2742",
     "inputs": [
       {
-        "fact_id": "business.two_minute_story"
+        "fact_id": "financial.free_cash_flow_5y"
+      },
+      {
+        "fact_id": "valuation.revenue_growth"
+      },
+      {
+        "literal": 20
       }
     ],
     "intended_use": "local_test_only",
-    "kind": "transform",
+    "kind": "recomputation",
     "on_missing": "fail",
-    "operation": "identity",
-    "output_id": "business.two_minute_story",
+    "operation": "multiply",
+    "output_id": "valuation.lynch_growth_justified_capitalisation.master_lynch",
     "output_period": {
       "alignment": "as_of",
       "basis": "instant",
       "window": null
     },
-    "output_schema_hash": "sha256:0c891a547ed5b254e627962a0d532f96480f5e9e1c7c86d998a7fbca62e19683",
+    "output_schema_hash": "sha256:1d72c0667f606301193078ff7ca80e8e1734dd8efd157bb0f8967c6659d057f8",
     "production_eligible": false,
     "review_status": "not_human_reviewed",
     "schema_version": 1,
     "source_ids": [
       "proxy:68711236c84ce159a"
     ],
-    "unit": "derived_proxy_scalar",
-    "value_kind": "scalar",
-    "version": "0.1.0"
+    "unit": "currency_units",
+    "value_kind": "monetary",
+    "version": "0.2.0"
   }
 ]

package/knowledge/solo-test/masters/master_marks/decision_policy.json

@@ -2,7 +2,28 @@
   "abstention_policy": "fail_closed",
   "dsl_version": "1.1",
   "eligibility": {
-    "all": []
+    "all": [
+      {
+        "condition": {
+          "op": "exists",
+          "value": {
+            "fact_id": "index.aggregate_pe_ttm"
+          }
+        },
+        "condition_id": "master_marks.market_valuation_observable",
+        "on_false": {
+          "common_stance": "out_of_scope",
+          "native_state": "provisional_cycle_unknown"
+        },
+        "on_uncomputable": {
+          "common_stance": "out_of_scope",
+          "native_state": "provisional_cycle_unknown"
+        },
+        "source_ids": [
+          "proxy:08cfa8347347faed7"
+        ]
+      }
+    ]
   },
   "fact_gate": {
     "on_missing_critical": {
@@ -10,21 +31,62 @@
       "native_state": "provisional_cycle_unknown"
     }
   },
-  "hard_vetoes": [],
+  "hard_vetoes": [
+    {
+      "condition": {
+        "conditions": [
+          {
+            "left": {
+              "output_id": "macro.credit_spread_gap.master_marks"
+            },
+            "op": "lt",
+            "right": {
+              "literal": 0
+            }
+          },
+          {
+            "left": {
+              "fact_id": "index.aggregate_earnings_yield"
+            },
+            "op": "lt",
+            "right": {
+              "fact_id": "macro.aaa_corporate_yield"
+            }
+          }
+        ],
+        "op": "all"
+      },
+      "on_trigger": {
+        "common_stance": "opposed",
+        "native_state": "provisional_defensive"
+      },
+      "on_uncomputable": {
+        "action": "abstain",
+        "decision": {
+          "common_stance": "out_of_scope",
+          "native_state": "provisional_cycle_unknown"
+        }
+      },
+      "source_ids": [
+        "proxy:08cfa8347347faed7"
+      ],
+      "veto_id": "master_marks.euphoria"
+    }
+  ],
   "native_decision_schema": "cycle_risk_posture_v1",
   "native_output_fields": [
     {
       "field": "metric_1",
       "on_missing": "fail",
       "value": {
-        "output_id": "cycle.valuation_percentile"
+        "output_id": "macro.credit_spread_gap.master_marks"
       }
     },
     {
       "field": "metric_2",
       "on_missing": "fail",
       "value": {
-        "output_id": "valuation.implied_expectations"
+        "output_id": "index.equity_over_corporate_debt_premium.master_marks"
       }
     }
   ],
@@ -52,7 +114,7 @@
     },
     {
       "decision": {
-        "common_stance": "cautious",
+        "common_stance": "constructive",
         "native_state": "provisional_aggressive"
       },
       "min_ratio": 1
@@ -69,7 +131,7 @@
       {
         "condition": {
           "left": {
-            "output_id": "cycle.valuation_percentile"
+            "output_id": "macro.credit_spread_gap.master_marks"
           },
           "op": "gt",
           "right": {
@@ -78,7 +140,7 @@
         },
         "coverage_weight": 1,
         "points": 1,
-        "rule_id": "proxy_score_1",
+        "rule_id": "marks_credit_spread_above_long_run_average",
         "source_ids": [
           "proxy:08cfa8347347faed7"
         ]
@@ -86,7 +148,7 @@
       {
         "condition": {
           "left": {
-            "output_id": "valuation.implied_expectations"
+            "output_id": "index.equity_over_corporate_debt_premium.master_marks"
           },
           "op": "gt",
           "right": {
@@ -95,7 +157,7 @@
         },
         "coverage_weight": 1,
         "points": 1,
-        "rule_id": "proxy_score_2",
+        "rule_id": "marks_equity_paid_over_corporate_debt",
         "source_ids": [
           "proxy:08cfa8347347faed7"
         ]

package/knowledge/solo-test/masters/master_marks/doctrine.jsonl

@@ -1,6 +1,6 @@
 {"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Calibrate aggressiveness to cycle temperature, consensus, price-implied expectations, credit conditions and permanent-loss risk rather than point forecasting.","rule_id":"proxy_rule_1","source_ids":["proxy:08cfa8347347faed7"]}
-{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Combine valuation, credit and behavior into a transparent cycle-temperature record.","rule_id":"proxy_rule_2","source_ids":["proxy:08cfa8347347faed7"]}
-{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Recompute what price and spreads imply before forming a second-level view.","rule_id":"proxy_rule_3","source_ids":["proxy:08cfa8347347faed7"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Where the high-yield spread sits relative to its long-run average. the named source's claim is not that spreads predict anything, but that they tell you whether investors are currently being paid to bear risk.","rule_id":"proxy_rule_2","source_ids":["proxy:08cfa8347347faed7"]}
+{"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"What the equity market pays over the safest corporate debt. The second thermometer: equities yielding less than investment-grade bonds means the cycle has run a long way toward the risk-tolerant end.","rule_id":"proxy_rule_3","source_ids":["proxy:08cfa8347347faed7"]}
 {"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Block aggressive posture when reviewed credit and behavior evidence indicate euphoria.","rule_id":"proxy_rule_4","source_ids":["proxy:08cfa8347347faed7"]}
 {"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Reject a thesis that does not differ from what price already implies.","rule_id":"proxy_rule_5","source_ids":["proxy:08cfa8347347faed7"]}
 {"assurance_class":"provisional_derived_proxy","attribution_status":"provisional_not_human_reviewed","claim":"Reject when a plausible path produces unbounded permanent capital loss.","rule_id":"proxy_rule_6","source_ids":["proxy:08cfa8347347faed7"]}

package/knowledge/solo-test/masters/master_marks/manifest.json

@@ -16,14 +16,18 @@
     ],
     "native_decision_schema": "cycle_risk_posture_v1",
     "optional_fact_types": [
+      "index.aggregate_pe_ttm",
+      "cycle.valuation_percentile",
       "cycle.credit_conditions",
       "cycle.investor_behavior",
+      "expectations.consensus",
       "valuation.implied_expectations",
       "risk.permanent_loss"
     ],
     "required_fact_types": [
-      "cycle.valuation_percentile",
-      "expectations.consensus"
+      "macro.credit_spread",
+      "index.aggregate_earnings_yield",
+      "macro.aaa_corporate_yield"
     ]
   },
   "components": {
@@ -44,8 +48,8 @@
   "computation": {
     "dsl_version": "1.1",
     "pipeline": [
-      "master_marks.cycle_temperature",
-      "master_marks.implied_expectations"
+      "master_marks.credit_cycle_position",
+      "master_marks.equity_over_corporate_debt"
     ]
   },
   "decision": {
@@ -53,8 +57,9 @@
     "common_projection": "common_stance_v1",
     "confidence_calibrator": null,
     "eligibility": [
-      "cycle.valuation_percentile",
-      "expectations.consensus"
+      "macro.credit_spread",
+      "index.aggregate_earnings_yield",
+      "macro.aaa_corporate_yield"
     ],
     "hard_vetoes": [
       "master_marks.euphoria",

package/knowledge/solo-test/masters/master_marks/provisional-index.json

@@ -16,7 +16,7 @@
   ],
   "experiment_pass_count": 0,
   "formula_approval_binding_count": 0,
-  "formula_compilation_manifest_hash": "sha256:7265b10a67bd0437af02572176793ef0b8529e48437edc5a2e0b1b1b9fbe73d0",
+  "formula_compilation_manifest_hash": "sha256:fc8afd469d9cafccccc4221622ccde5061167c538ab6472eecaaf65efce5461b",
   "method_model_eligible": false,
   "native_states": [
     "provisional_cycle_unknown",
@@ -26,8 +26,8 @@
   ],
   "persona_id": "master_marks",
   "planned_tool_ids": [
-    "master_marks.cycle_temperature",
-    "master_marks.implied_expectations"
+    "master_marks.credit_cycle_position",
+    "master_marks.equity_over_corporate_debt"
   ],
   "production_eligible": false,
   "review_status": "not_human_reviewed",

package/knowledge/solo-test/masters/master_marks/sources.jsonl

@@ -1 +1 @@
-{"adjudication":{"notes":"No human review, no named-method attribution, no production effect.","reviewer_ids":[],"status":"pending"},"author":"AlphaCouncil project build specification","content_hash":"sha256:dbe48aacb0fe195df5ff90c933b69c1e8c13a7b9dc7e40de22e20e06726e0af4","grade":"E","known_at":"2026-07-27","locator":{"section":"master_marks"},"public_at":"2026-07-27","published_at":"2026-07-27","retrieved_at":"2026-07-27","schema_version":1,"source_id":"proxy:08cfa8347347faed7","source_kind":"derived_proxy","summary":"Project-authored provisional proxy used only to exercise the deterministic solo-test build; it is not source approval or method attribution.","supports":["solo_test_structure","deterministic_execution_only"],"title":"Provisional project-derived method hypothesis for master_marks","url":"https://github.com/Zhao73/alphacouncil-agent/blob/main/data/persona-v3-build-specs.v1.mjs"}
+{"adjudication":{"notes":"No human review, no named-method attribution, no production effect.","reviewer_ids":[],"status":"pending"},"author":"AlphaCouncil project build specification","content_hash":"sha256:26c59510de5656ea491bb72f59604cb46bb916c29bae0be15d7845f576213adc","grade":"E","known_at":"2026-07-27","locator":{"section":"master_marks"},"public_at":"2026-07-27","published_at":"2026-07-27","retrieved_at":"2026-07-27","schema_version":1,"source_id":"proxy:08cfa8347347faed7","source_kind":"derived_proxy","summary":"Project-authored provisional proxy used only to exercise the deterministic solo-test build; it is not source approval or method attribution.","supports":["solo_test_structure","deterministic_execution_only"],"title":"Provisional project-derived method hypothesis for master_marks","url":"https://github.com/Zhao73/alphacouncil-agent/blob/main/data/persona-v3-build-specs.v1.mjs"}

package/knowledge/solo-test/masters/master_marks/tools.json

@@ -1,12 +1,22 @@
 [
   {
     "assurance_class": "provisional_derived_proxy",
-    "derivation_evidence_hash": "sha256:fc5731e8512ce0a16ba1c00ac9c3f718d5f1f4b70969f3e7d0665398880330a5",
-    "derivation_spec_hash": "sha256:669beef679dd4c9a0193096ac367849e8e7cfb66ceeede65f277a89b04625f81",
-    "derivation_spec_id": "master_marks.cycle_temperature.prototype_v1.derived_proxy_v1",
+    "derivation_evidence_hash": "sha256:7fa3102a8ff54e44ea3cf29dd9e34d4ae08d830f050b71b732a76ced5f8daf29",
+    "derivation_spec_hash": "sha256:6a651ebcd2f6cd204cef99cab0e2ab363b5bcb1ea9b19447b4d562050856aa3f",
+    "derivation_spec_id": "master_marks.credit_cycle_position.prototype_v1.derived_proxy_v1",
     "dsl_version": "1.1",
-    "id": "master_marks.cycle_temperature",
+    "id": "master_marks.credit_cycle_position",
     "input_contracts": [
+      {
+        "on_missing": "fail",
+        "period": {
+          "alignment": "as_of",
+          "basis": "instant",
+          "window": null
+        },
+        "unit": "decimal",
+        "value_kind": "ratio"
+      },
       {
         "on_missing": "fail",
         "period": {
@@ -18,40 +28,43 @@
         "value_kind": "scalar"
       }
     ],
-    "input_schema_hash": "sha256:016aec2fd07c92dd7ed6f7d264498f565f9aef99338daa3075dc190d57ecd0e1",
+    "input_schema_hash": "sha256:a83a44211f3b8a86162f1061156588545de04a6ca5ec9d8cf3fb81f84725ec60",
     "inputs": [
       {
-        "fact_id": "cycle.valuation_percentile"
+        "fact_id": "macro.credit_spread"
+      },
+      {
+        "literal": 0.05
       }
     ],
     "intended_use": "local_test_only",
-    "kind": "transform",
+    "kind": "recomputation",
     "on_missing": "fail",
-    "operation": "identity",
-    "output_id": "cycle.valuation_percentile",
+    "operation": "subtract",
+    "output_id": "macro.credit_spread_gap.master_marks",
     "output_period": {
       "alignment": "as_of",
       "basis": "instant",
       "window": null
     },
-    "output_schema_hash": "sha256:9a0bad8dd31ead6f8e5fef43c00eea682c6515fe3ac5f018d72a7c9d8baebd1e",
+    "output_schema_hash": "sha256:9ee3b94d5a29436bd49d3ca773e533eec15c60b21899cc71a3be49ba5d931555",
     "production_eligible": false,
     "review_status": "not_human_reviewed",
     "schema_version": 1,
     "source_ids": [
       "proxy:08cfa8347347faed7"
     ],
-    "unit": "derived_proxy_scalar",
-    "value_kind": "scalar",
-    "version": "0.1.0"
+    "unit": "decimal",
+    "value_kind": "ratio",
+    "version": "0.2.0"
   },
   {
     "assurance_class": "provisional_derived_proxy",
-    "derivation_evidence_hash": "sha256:f74dc4c22edda2e6998afc39dd9b009edd0d7291ed61f714015d609fabc6c767",
-    "derivation_spec_hash": "sha256:9c10a628bbb736683d6ed57868b9e36160d96855cf61d20ebc71f3c2c0823949",
-    "derivation_spec_id": "master_marks.implied_expectations.prototype_v1.derived_proxy_v1",
+    "derivation_evidence_hash": "sha256:284ce394de5332330d2c8e70b7e600b08496e027208c47ba7fcd3093442be7da",
+    "derivation_spec_hash": "sha256:d2b8904110e22abd95fd6221802e62b82b411d310acc5e167cbb17d8ac9ddb7b",
+    "derivation_spec_id": "master_marks.equity_over_corporate_debt.prototype_v1.derived_proxy_v1",
     "dsl_version": "1.1",
-    "id": "master_marks.implied_expectations",
+    "id": "master_marks.equity_over_corporate_debt",
     "input_contracts": [
       {
         "on_missing": "fail",
@@ -60,35 +73,48 @@
           "basis": "instant",
           "window": null
         },
-        "unit": "derived_proxy_scalar",
-        "value_kind": "scalar"
+        "unit": "decimal",
+        "value_kind": "ratio"
+      },
+      {
+        "on_missing": "fail",
+        "period": {
+          "alignment": "as_of",
+          "basis": "instant",
+          "window": null
+        },
+        "unit": "decimal",
+        "value_kind": "ratio"
       }
     ],
-    "input_schema_hash": "sha256:aad6ca170bc456ad5dc6afc3022831545b9371545383a6ac473364b15d62cc9d",
+    "input_schema_hash": "sha256:a6ef5f524282508a56f6dced355eac7e4d9267a236346d555f005383b544e519",
     "inputs": [
       {
-        "fact_id": "expectations.consensus"
+        "fact_id": "index.aggregate_earnings_yield"
+      },
+      {
+        "fact_id": "macro.aaa_corporate_yield"
       }
     ],
     "intended_use": "local_test_only",
-    "kind": "transform",
+    "kind": "recomputation",
     "on_missing": "fail",
-    "operation": "identity",
-    "output_id": "valuation.implied_expectations",
+    "operation": "subtract",
+    "output_id": "index.equity_over_corporate_debt_premium.master_marks",
     "output_period": {
       "alignment": "as_of",
       "basis": "instant",
       "window": null
     },
-    "output_schema_hash": "sha256:b1e1388df98faba85d0dc4703433e11a9acc1c1513256149780a8cb0a265ab63",
+    "output_schema_hash": "sha256:825e5c775afeddaf6dbb225429d5e587ba84558050f98e1d6f1328e076588467",
     "production_eligible": false,
     "review_status": "not_human_reviewed",
     "schema_version": 1,
     "source_ids": [
       "proxy:08cfa8347347faed7"
     ],
-    "unit": "derived_proxy_scalar",
-    "value_kind": "scalar",
-    "version": "0.1.0"
+    "unit": "decimal",
+    "value_kind": "ratio",
+    "version": "0.2.0"
   }
 ]