ThreeBears_DallE_Jon_01Mar2026_InsideCropped_Text_200by188
ContactDiscRateEnd2019ContactDiscRateEnd2019
SiteMapDiscRateEnd2019SiteMapDiscRateEnd2019
nominal_returns
[discount_rates_problem] [long_term] [historic_returns] [nominal_returns]

The ILGs are only included from 1984 onwards so the third curve (grey) in the “1964” chart has been used to show the risk premium. The apparent inconsistency with the other historic chart arises from starting there in 1963 rather than in 1964 here.