@article {Beyer135, author = {Scott B. Beyer and Gerald R. Jensen and Robert R. Johnson}, title = {The Presidential Term}, volume = {34}, number = {2}, pages = {135--142}, year = {2008}, doi = {10.3905/jpm.2008.701624}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Is there a relation between security returns and the year of a U.S. president{\textquoteright}s term? The answer is yes. There is a prominent pattern in stock returns that relates to the presidential term. Equities have generally prospered in the second half of a president{\textquoteright}s term, especially during the third year. Further analysis reveals that monetary policy actions correspond with the identified return pattern{\textemdash}Fed policy has generally been significantly more accommodative during the third year of a president{\textquoteright}s term. The evidence overall strongly suggests that investors should carefully monitor the actions of policymakers and the political calendar before they make investment decisions.TOPICS: Financial crises and financial market history, fixed-income portfolio management, in markets}, issn = {0095-4918}, URL = {https://jpm.pm-research.com/content/34/2/135}, eprint = {https://jpm.pm-research.com/content/34/2/135.full.pdf}, journal = {The Journal of Portfolio Management} }