> For the complete documentation index, see [llms.txt](https://docs.candelacharts.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.candelacharts.com/investing/macro-and-liquidity/macro-credit-model.md). # Macro Credit Model The **CandelaCharts - Macro Credit Model** is an institutional-grade macroeconomic indicator designed to track credit market health by monitoring corporate bond spreads. Credit markets are often considered the "smart money" of the financial world. They tend to sniff out economic weakness and systemic stress long before equity markets react. By measuring the excess yield investors demand for bearing credit risk—specifically High Yield (Junk) bonds versus Investment Grade bonds—this model provides an early warning system for impending market corrections or recessions. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.candelacharts.com/investing/macro-and-liquidity/macro-credit-model.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.