We discussed the implications of the following equation in the lectures: 11, - Eres + Anteil ER where a deterioration in the US external imbalance is represented by a rise in nxar. Does a rise in nxar predict an increase in the yield on global risky assets? Explain. We discussed the implications of the following equation in the lectures: 11, - Eres + Anteil ER where a deterioration in the US external imbalance is represented by a rise in nxar. Does a rise in nxar predict an increase in the yield on global risky assets? Explain