Capitalytics

**Regression for Real disposable income growth**

	Dependent variable (+/- SE):

	Real disposable income growth

Constant	2.736 (+/- 0.250)
	p = 0.0002^***
SP500 Stock Price Index	0.002 (+/- 0.00002)
	p = 0.000^***
US Fed Reserve O-N Loan Rate	-2.855 (+/- 0.070)
	p = 0.00000^***
Moody's AAA Curve	-3.731 (+/- 0.149)
	p = 0.00001^***
Moody's BAA Curve	4.320 (+/- 0.098)
	p = 0.00000^***
Nominal GDP growth	-0.066 (+/- 0.001)
	p = 0.000^***
Nominal disposable income growth	0.914 (+/- 0.001)
	p = 0.000^***
CPI Inflation Rate	-0.460 (+/- 0.006)
	p = 0.000^***
BBB corporate yield	1.501 (+/- 0.046)
	p = 0.00000^***
30-year Mortgate Rate	-1.707 (+/- 0.049)
	p = 0.00000^***
Prime Rate	0.687 (+/- 0.036)
	p = 0.00001^***
Dow Total Stock Market Index	-0.0001 (+/- 0.00000)
	p = 0.00000^***
Home Price Index	-0.022 (+/- 0.001)
	p = 0.00001^***
Market Volatility Index	-0.006 (+/- 0.001)
	p = 0.0002^***
US Avg Retail Gasoline Price ($-gal; all grades, all formulations)	0.662 (+/- 0.020)
	p = 0.00000^***
30-year Treasury Yield	14.834 (+/- 0.609)
	p = 0.00001^***
LN_30-year Treasury Yield	-61.837 (+/- 2.063)
	p = 0.00000^***
20-year Treasury Yield	-10.946 (+/- 0.499)
	p = 0.00001^***
LN_20-year Treasury Yield	33.800 (+/- 1.376)
	p = 0.00001^***
LN_10-year Treasury Yield	2.407 (+/- 0.172)
	p = 0.00004^***
LN_1-month Treasury Yield	1.649 (+/- 0.051)
	p = 0.00000^***
7-year Treasury Yield	-3.463 (+/- 0.115)
	p = 0.00000^***
LN_7-year Treasury Yield	36.160 (+/- 0.688)
	p = 0.00000^***
5-year Treasury Yield	-2.042 (+/- 0.144)
	p = 0.00004^***
LN_5-year Treasury Yield	2.711 (+/- 0.157)
	p = 0.00002^***
6-month Treasury Yield	6.235 (+/- 0.221)
	p = 0.00001^***
LN_6-month Treasury Yield	-4.062 (+/- 0.257)
	p = 0.00002^***
LN_3-year Treasury Yield	-22.248 (+/- 0.416)
	p = 0.00000^***
1-year Treasury Yield	-6.875 (+/- 0.216)
	p = 0.00000^***
LN_1-year Treasury Yield	9.202 (+/- 0.328)
	p = 0.00001^***
1-year Treasury Yield_2	-0.256 (+/- 0.020)
	p = 0.0001^***
3-year Treasury Yield_2	0.363 (+/- 0.013)
	p = 0.00001^***
6-month Treasury Yield_2	0.315 (+/- 0.019)
	p = 0.00002^***
5-year Treasury Yield_2	0.168 (+/- 0.012)
	p = 0.00005^***
3-month Treasury Yield_2	-0.030 (+/- 0.005)
	p = 0.003^***

Observations	40
R²	1.000
Adjusted R²	1.000
Residual Std. Error	0.012 (df = 5)
F Statistic	1,434,776.000^*** (df = 34; 5)

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