Coefficient

T-stat

P-value

R-square

PROF_MARGIN

−0.0043

−4.15

0.00006**

11.94%

JPM-CPI-REER/ToT Z-score

−0.0036

−3.56

0.00052**

9.08%

JPM-PPI-REER/ToT Z-score

−0.0035

−3.45

0.00077**

8.55%

TradeBalance

0.0034

3.36

0.001**

8.18%

1mFwdYield

−0.0032

−2.99

0.0033**

6.58%

AGGR Sentiment

−0.0036

−2.09

0.04**

6.22%

TermsTrade

0.0021

2.01

0.047**

3.10%

1m FX MOM

0.0020

1.87

0.064*

2.84%

BEST_PX_BPS_RATIO

−0.0019

−1.80

0.075*

2.48%

JPM_PPI_REER

0.0019

1.79

0.075*

2.49%