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.Very timely, considering a six-year-old story about United Airlines bankruptcy filing that circulated yesterday sent its stock plunging 75 percent.
[via Docuticker]
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