Headline Risk: Unexpected Price Changes and Answering to the Folks at the Top

Natalie Cohen, Joe Mysak, Sean Carney and Michael Zezas

Municipal Finance Journal, 2017, vol. 37, issue 4, 57 - 79

Abstract: Hardly a day goes by without a comment about “headlines” or “headline risk.” What is headline risk and how does it affect our markets? This article looks at how news headlines influence price changes in the market and investor buying and selling behavior. It also discusses the questions of risk and investment policy that headlines raise among senior managers at a firm whether these issues have already been vetted or not. A seasoned journalist and experienced strategist discuss what happens when there is a potentially market-changing story.

Date: 2017
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