The Mechanism · Gated-generation receipt

gen-explain-duration-and-interest-rate-risk-as-you-would-to-a-ca-706e

stable pending witness
2026-05-29 04:18:54 UTC · anthropic/claude-sonnet-4-5

Prompt

Explain duration and interest-rate risk as you would to a capable student, in 3-4 sentences.
92 chars

Generation

# Duration and Interest-Rate Risk **Duration** measures how sensitive a bond's price is to interest rate changes—think of it as the bond's "interest rate exposure time." When interest rates rise, bond prices fall (and vice versa), because newer bonds pay better rates, making existing bonds less attractive. The longer a bond's duration, the more its price will swing when rates change: a bond with 10-year duration will drop roughly 10% if rates rise 1%, while a 2-year duration bond only drops about 2%. This is **interest-rate risk**—the danger that rate movements will decrease your bond's market value before it matures.
31 tokens in · 144 tokens out · 6124 ms · $0.0023

The four gates

RED
pass
no disqualifying input patterns detected
FLOOR
pass
output above protective minimum; no mismatches
WAY
pass
no declared way_path (Way check NA); no coercion language
EXECUTION
deferred
no witnesses available (Witness Roll not yet constituted)

Verifier results

scripture_anchors NOT_APPLICABLE
0 Scripture citation(s) extracted
theology_doctrine NOT_APPLICABLE
no doctrine keyword patterns detected

Metrics

Total latency
6131.8 ms
Base LLM
6124.3 ms
Verifiers
0.2 ms
Gates
0.0 ms
Cost
$0.0023

Trail

04:18:54 received prompt_chars=92 verifiers=['scripture_anchors', 'theology_doctrine']
04:18:54 red_gate decision=pass reason=no disqualifying input patterns detected
04:19:00 base_llm_call model=anthropic/claude-sonnet-4-5 tokens_in=31 tokens_out=144 latency_ms=6124.3 cost_usd=0.0023
04:19:00 verifier:scripture_anchors verdict=NOT_APPLICABLE summary=0 Scripture citation(s) extracted
04:19:00 verifier:theology_doctrine verdict=NOT_APPLICABLE summary=no doctrine keyword patterns detected
04:19:00 floor_gate decision=pass reason=output above protective minimum; no mismatches
04:19:00 way_gate decision=pass reason=no declared way_path (Way check NA); no coercion language
04:19:00 execution_gate decision=deferred reason=no witnesses available (Witness Roll not yet constituted)
04:19:00 signed hash_algo=sha256 hash=sha256:6d1b138a966ca1d0e74bbbb8a48214508bd94854c180aec9a8eeabb608445f16

Content hash

sha256:6d1b138a966ca1d0e74bbbb8a48214508bd94854c180aec9a8eeabb608445f16

SHA256 over the canonical JSON (excluding this field). Tamper detection. Ed25519 signing planned for v2 once the operator’s signing key is provisioned on disk.

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