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How economic news moves markets

Leonardo Bartolini, Linda Goldberg () and Adam Sacarny ()

Current Issues in Economics and Finance, 2008, vol. 14, issue Aug

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.

Keywords: Economic indicators; Foreign exchange market; Bond market; Assets (Accounting) - Prices; Stock - Prices (search for similar items in EconPapers)
Date: 2008
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