Capitalytics

**Regression for Real GDP growth**

	Dependent variable (+/- SE):

	Real GDP growth

Constant	188.398 (+/- 17.436)
	p = 0.000^***
SP500 Stock Price Index	-0.014 (+/- 0.002)
	p = 0.00001^***
US Fed Reserve O-N Loan Rate	56.628 (+/- 3.855)
	p = 0.000^***
Unemployment Rate	-13.440 (+/- 0.470)
	p = 0.000^***
BBB corporate yield	15.889 (+/- 1.983)
	p = 0.00000^***
30-year Mortgate Rate	-18.968 (+/- 4.150)
	p = 0.0003^***
Market Volatility Index	0.253 (+/- 0.039)
	p = 0.00001^***
US Avg Retail Gasoline Price ($-gal; all grades, all formulations)	13.051 (+/- 1.588)
	p = 0.00000^***
LN_30-year Treasury Yield	-189.397 (+/- 23.287)
	p = 0.00000^***
LN_20-year Treasury Yield	219.886 (+/- 27.323)
	p = 0.00000^***
10-year Treasury Yield	214.180 (+/- 20.898)
	p = 0.000^***
LN_10-year Treasury Yield	-457.720 (+/- 30.522)
	p = 0.000^***
LN_1-month Treasury Yield	5.373 (+/- 1.096)
	p = 0.0001^***
7-year Treasury Yield	-207.608 (+/- 29.163)
	p = 0.00000^***
LN_7-year Treasury Yield	314.700 (+/- 34.599)
	p = 0.00000^***
5-year Treasury Yield	-131.284 (+/- 33.063)
	p = 0.001^***
6-month Treasury Yield	-56.715 (+/- 5.551)
	p = 0.000^***
LN_6-month Treasury Yield	-13.718 (+/- 2.241)
	p = 0.00001^***
3-year Treasury Yield	87.936 (+/- 19.714)
	p = 0.0003^***
3-year Treasury Yield_2	-17.929 (+/- 5.643)
	p = 0.005^***
5-year Treasury Yield_2	31.676 (+/- 8.374)
	p = 0.002^***

Observations	40
R²	0.986
Adjusted R²	0.971
Residual Std. Error	1.279 (df = 19)
F Statistic	67.089^*** (df = 20; 19)

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