The Latency Budget Nobody Allocated Across Your Agent's Hops
Your agent has a latency SLO. Someone put it in a doc: "responses under 8 seconds, p95." What nobody did was decide how those 8 seconds get spent. There is no line item for the retrieval call, no line item for the planning step, no line item for the third tool the model decided to invoke because it felt uncertain. The budget exists as a single number at the boundary and as nothing at all inside. So when a five-hop chain blows past 8 seconds, the on-call engineer stares at a trace and cannot answer the only question that matters: which hop did it?
This is the difference between a service that has a latency budget and a service that has a latency hope. A budget is allocated per component and enforced. A hope is measured at the door and prayed over. Most agent systems ship with a hope, because the hop structure is dynamic — the model decides how many tool calls to make — and it feels impossible to budget something you don't control. It isn't. You budget it exactly because you don't control it.
