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How Economic News Moves Markets

Current Issues in Economics and Finance, Vol. 14, No. 6, August 2008
2008
  • 2
    Citations
  • 3,762
    Usage
  • 3
    Captures
  • 0
    Mentions
  • 0
    Social Media
Metric Options:   Counts1 Year3 Year

Metrics Details

  • Citations
    2
    • Citation Indexes
      2
  • Usage
    3,762
    • Abstract Views
      2,945
    • Downloads
      817
  • Captures
    3
    • Readers
      2
      • SSRN
        2
    • Exports-Saves
      1
      • SSRN
        1
  • Ratings
    • Download Rank
      60,698

Paper Description

Exploring how the release of new economic data affects most prices in the stock, bond, and foreign exchange markets, the authors find out 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.

Bibliographic Details

Leonardo Bartolini; Linda S. Goldberg; Adam Sacarny

economic news; asset price; high frequency rate; macroeconomy

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