问题：
Please illustrate the macroeconomic-based risk fa
答案：
denotes: the return on a value-weighted index of NYSE-listed stocks denotes the monthly growth rate in US, industrial production denotes the change in inflation, measured by the Us, consumer price index denotes the difference between actual and expected levels of inflation denotes the unanticipated change in the bond credit spread (Baa yield-RFR) denotes the unanticipated term structure shift (long-term RFR less short-term RFR) The explanation: