Capitalytics

**Regression for Nominal disposable income growth**

	Dependent variable (+/- SE):

	Nominal disposable income growth

Constant	-11.307 (+/- 0.611)
	p = 0.00001^***
SP500 Stock Price Index	-0.002 (+/- 0.00002)
	p = 0.000^***
US Fed Reserve O-N Loan Rate	4.554 (+/- 0.072)
	p = 0.00000^***
Moody's AAA Curve	4.202 (+/- 0.168)
	p = 0.00001^***
Moody's BAA Curve	-5.038 (+/- 0.127)
	p = 0.00000^***
Nominal GDP growth	0.143 (+/- 0.003)
	p = 0.00000^***
Real disposable income growth	1.064 (+/- 0.001)
	p = 0.000^***
Unemployment Rate	0.730 (+/- 0.029)
	p = 0.00001^***
CPI Inflation Rate	0.337 (+/- 0.009)
	p = 0.00000^***
BBB corporate yield	0.436 (+/- 0.057)
	p = 0.001^***
30-year Mortgate Rate	1.464 (+/- 0.047)
	p = 0.00000^***
Prime Rate	-1.320 (+/- 0.037)
	p = 0.00000^***
Dow Total Stock Market Index	0.0002 (+/- 0.00000)
	p = 0.00000^***
Home Price Index	0.019 (+/- 0.001)
	p = 0.00001^***
Commercial Real Estate Price Index	0.004 (+/- 0.001)
	p = 0.004^***
Market Volatility Index	0.038 (+/- 0.002)
	p = 0.00001^***
US Avg Retail Gasoline Price ($-gal; all grades, all formulations)	-0.894 (+/- 0.024)
	p = 0.00000^***
LN_30-year Treasury Yield	22.314 (+/- 0.603)
	p = 0.00000^***
10-year Treasury Yield	-2.013 (+/- 0.092)
	p = 0.00001^***
LN_1-month Treasury Yield	0.330 (+/- 0.053)
	p = 0.002^***
7-year Treasury Yield	10.373 (+/- 0.327)
	p = 0.00000^***
LN_7-year Treasury Yield	-51.239 (+/- 1.177)
	p = 0.00000^***
5-year Treasury Yield	1.433 (+/- 0.156)
	p = 0.0003^***
LN_5-year Treasury Yield	-3.016 (+/- 0.109)
	p = 0.00001^***
6-month Treasury Yield	-11.343 (+/- 0.279)
	p = 0.00000^***
LN_3-year Treasury Yield	23.917 (+/- 0.490)
	p = 0.00000^***
1-year Treasury Yield	10.082 (+/- 0.253)
	p = 0.00000^***
LN_1-year Treasury Yield	-5.212 (+/- 0.108)
	p = 0.00000^***
1-year Treasury Yield_2	0.375 (+/- 0.020)
	p = 0.00001^***
3-year Treasury Yield_2	-0.812 (+/- 0.025)
	p = 0.00000^***
6-month Treasury Yield_2	-0.242 (+/- 0.020)
	p = 0.0001^***
5-year Treasury Yield_2	-0.145 (+/- 0.014)
	p = 0.0002^***
3-month Treasury Yield_2	0.085 (+/- 0.004)
	p = 0.00001^***
30-year Treasury Yield_2	-0.477 (+/- 0.019)
	p = 0.00001^***
Market Volatility Index_2	-0.001 (+/- 0.00003)
	p = 0.00001^***

Observations	40
R²	1.000
Adjusted R²	1.000
Residual Std. Error	0.012 (df = 5)
F Statistic	1,410,621.000^*** (df = 34; 5)

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