TITLE

How Economic News Moves Markets

AUTHOR(S)
Bartolini, Leonardo; Goldberg, Linda; Sacarny, Adam
PUB. DATE
August 2008
SOURCE
Current Issues in Economics & Finance;Aug2008, Vol. 14 Issue 6, p1
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Exploring how the release of new economic data affects asset prices in the stock, bond, and foreign exchange markets, the authors find that only a few announcements--the nonfarm payroll numbers, the GDP advance release, and a private sector manufacturing report--generate price responses that are economically significant and measurably persistent. Bond yields show the strongest response and stock prices the weakest. The authors' analysis of the direction of these effects suggests that news of stronger-than-expected growth and inflation generally prompts a rise in bond yields and the exchange value of the dollar
ACCESSION #
34410594

 

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