ρ

Interest rate

Exchange rate

RAT

Bond(本)

gold

R²/LIK

W1

1.0409***

(0)

0.3077*

(0.0526)

0.0569*

(0.0672)

0.7133

(484.4)

W2

1.0466***

(0)

0.3128**

(0.0478)

0.0649**

(0.0356)

0.7158

(490.2)

W3

1.0560***

(0)

0.3067*

(0.0518)

0.0695**

(0.0242)

0.7170

(493.1)