Top Driving Factors as of 2021-08-03

TL;DR: Lowering interest rates and Professional Services drive Industrials.

For 15 day ahead forecast horizon, the top drivers are

1. Fiserv Inc. FISV

2. US 10-Year Real Interest¹ (from TIPS bonds)

3. Balance on Capital Account² (of United States)

4. M3 money supply for the United Kingdom³

5. Accenture ACN

Collectively, they are predictive of

1. Commercial and Industrial Loans (United States)

2. 10-Year Government Bond Yields for the Euro Area

3. iShares MSCI Japan ETF

4. Total Industrial Production Excluding Construction for the Euro Area

5. Consumer Discretionary Select Sector SPDR Fund XLY

6. Chevron Corp CVX

7. Copart Inc CPRT

8. CSX Corp CSX

9. Lowe’s Companies, Inc. LOW

10. Ford Motor Co F

The Time Series Terminal continuously fits out a graph of driving forces for arbitrary forecast horizon. When given a search, it will zoom into the neighbour of the query instrument and display its driving factors.

Newsletter: https://tsterm.substack.com

1. Treasury Inflation-Protected Securities (TIPS): https://www.investopedia.com/terms/t/tips.asp

2. Capital Account: https://en.m.wikipedia.org/wiki/Capital_account

3. M3 money supply: https://www.investopedia.com/terms/m/m3.asp