Capitalytics

**Regression for 10-year Treasury Yield**

	Dependent variable (+/- SE):

	10-year Treasury Yield

Constant	-3.048 (+/- 0.424)
	p = 0.00001^***
SP500 Stock Price Index	0.0002 (+/- 0.00002)
	p = 0.00000^***
Moody's BAA Curve	-0.396 (+/- 0.037)
	p = 0.00000^***
Nominal GDP growth	0.033 (+/- 0.004)
	p = 0.00000^***
Real disposable income growth	0.129 (+/- 0.010)
	p = 0.000^***
Nominal disposable income growth	-0.122 (+/- 0.010)
	p = 0.000^***
Unemployment Rate	0.296 (+/- 0.033)
	p = 0.00000^***
BBB corporate yield	0.329 (+/- 0.034)
	p = 0.00000^***
Prime Rate	-0.263 (+/- 0.022)
	p = 0.000^***
Dow Total Stock Market Index	0.00002 (+/- 0.00000)
	p = 0.0001^***
US Avg Retail Gasoline Price ($-gal; all grades, all formulations)	-0.252 (+/- 0.034)
	p = 0.00001^***
30-year Treasury Yield	-4.013 (+/- 0.445)
	p = 0.00000^***
LN_30-year Treasury Yield	13.938 (+/- 1.542)
	p = 0.00000^***
LN_1-month Treasury Yield	0.444 (+/- 0.061)
	p = 0.00001^***
7-year Treasury Yield	6.847 (+/- 0.624)
	p = 0.00000^***
LN_7-year Treasury Yield	-17.832 (+/- 1.765)
	p = 0.00000^***
5-year Treasury Yield	2.337 (+/- 0.175)
	p = 0.000^***
LN_5-year Treasury Yield	-1.659 (+/- 0.203)
	p = 0.00001^***
6-month Treasury Yield	-2.764 (+/- 0.279)
	p = 0.00000^***
3-year Treasury Yield	-4.123 (+/- 0.370)
	p = 0.00000^***
LN_3-year Treasury Yield	8.416 (+/- 0.789)
	p = 0.00000^***
1-year Treasury Yield	3.555 (+/- 0.330)
	p = 0.00000^***
LN_1-year Treasury Yield	-1.456 (+/- 0.133)
	p = 0.00000^***
1-year Treasury Yield_2	-0.211 (+/- 0.026)
	p = 0.00000^***
6-month Treasury Yield_2	0.237 (+/- 0.027)
	p = 0.00000^***
5-year Treasury Yield_2	-0.165 (+/- 0.018)
	p = 0.00000^***

Observations	40
R²	1.000
Adjusted R²	1.000
Residual Std. Error	0.021 (df = 14)
F Statistic	4,981.454^*** (df = 25; 14)

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