Capitalytics

**Regression for Nominal GDP growth**

	Dependent variable (+/- SE):

	Nominal GDP growth

Constant	64.764 (+/- 13.024)
	p = 0.0001^***
SP500 Stock Price Index	-0.011 (+/- 0.002)
	p = 0.00001^***
US Fed Reserve O-N Loan Rate	45.931 (+/- 4.069)
	p = 0.000^***
Unemployment Rate	-12.922 (+/- 0.441)
	p = 0.000^***
BBB corporate yield	15.799 (+/- 1.851)
	p = 0.00000^***
30-year Mortgate Rate	-10.932 (+/- 3.539)
	p = 0.007^***
LN_Market Volatility Index	6.432 (+/- 1.120)
	p = 0.00002^***
US Avg Retail Gasoline Price ($-gal; all grades, all formulations)	17.244 (+/- 1.436)
	p = 0.000^***
LN_30-year Treasury Yield	-127.054 (+/- 16.992)
	p = 0.00000^***
20-year Treasury Yield	47.147 (+/- 8.514)
	p = 0.00003^***
10-year Treasury Yield	174.127 (+/- 14.698)
	p = 0.000^***
LN_10-year Treasury Yield	-378.386 (+/- 21.350)
	p = 0.000^***
LN_1-month Treasury Yield	6.333 (+/- 0.984)
	p = 0.00001^***
7-year Treasury Yield	-264.644 (+/- 22.990)
	p = 0.000^***
LN_7-year Treasury Yield	471.186 (+/- 26.199)
	p = 0.000^***
LN_5-year Treasury Yield	-159.148 (+/- 10.630)
	p = 0.000^***
6-month Treasury Yield	-77.845 (+/- 7.506)
	p = 0.000^***
LN_6-month Treasury Yield	-16.250 (+/- 1.808)
	p = 0.00000^***
3-year Treasury Yield	90.633 (+/- 9.591)
	p = 0.00000^***
1-year Treasury Yield	39.254 (+/- 9.051)
	p = 0.0004^***
3-year Treasury Yield_2	-23.227 (+/- 2.243)
	p = 0.000^***
5-year Treasury Yield_2	21.289 (+/- 2.284)
	p = 0.00000^***

Observations	40
R²	0.993
Adjusted R²	0.986
Residual Std. Error	0.986 (df = 18)
F Statistic	130.919^*** (df = 21; 18)

Note:	^p<0.1; ^p<0.05; ^**p<0.01