You have determined that the CAPM does not account for all risk in the market or predict asset returns accurately. You have begun examining other models for predicting returns. You have noticed that whenever consumers increase spending on both durable and non-durable goods, market returns are positive. You suspect this relationship entirely explains asset returns. Which model would you most likely want to replace the CAPM with

A) Intertemporal CAPM B) CAPM C) Consumption CAPM D) Fama and French