Hedge-Bench: Benchmarking Agents on Hard, Realistic Tasks Pertaining to Financial Reasoning

AI agents can increasingly handle the mechanical tasks of financial analysis: retrieving documents, calculating formulas, updating spreadsheets. The harder, more valuable challenge is reasoning through the open-ended questions that define expert Analyst work. Existing benchmarks do not capture this class of problem, and those that attempt to evaluate open-ended reasoning rely on model-judged outputs that introduce noise and circularity. We present Hedge-Bench 1.0: a benchmark of 102 actual, on-the-job tasks grounded in the explicit reasoning traces of professional hedge fund analysts working with relevant information sources. This approach enables deterministic grading against verified expert steps. Frontier models and agents score below 16\% on the benchmark. We publish the dataset and evaluation harness at github.com/Trata-Inc/trata-hedge-bench.

TIGER: Traceable Inference with Graph-Based Evidence Routing for Mitigating Hallucinations in Multimodal Generation

We study fact-level repair for multimodal generation, where a fluent output may contain specific facts that are not supported by the input. Existing inference-time repair methods often generate feedback by jointly conditioning on the input and the current output. This design has two limitations: hallucinated claims in the output can bias the model's interpretation of the input, and free-form feedback cannot be ranked or scheduled at the fact level. We present TIGER, an inference-time framework that redesigns feedback for localized repair. TIGER independently extracts an observation graph from the input and a claim graph from the current output, then assigns each claim a graph-conditioned risk score based on support and conflict. The model repairs selected high-risk claims while keeping the backbone frozen. We provide a convergence analysis showing that the expected total risk decreases geometrically to an explicit asymptotic bound under mild assumptions. Experiments across four cross-modal paths, including image-to-text, image+text-to-text, audio-to-text, and video-to-text, show that TIGER reduces unsupported content while preserving task quality. The gains hold across multiple backbones, and a CrisisFACTS case study suggests that the same repair mechanism can improve grounding in multi-source settings.