search query: @author Copeland, T. / total: 6
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| Author: | Copeland, M. Copeland, T. |
| Title: | Leads, lags, and trading in global markets |
| Journal: | Financial Analysts' Journal
1998 : JUL/AUG, VOL. 54:4, p. 70-80 |
| Index terms: | Markets Capital Finance Exchange rates USA Asia Europe |
| Language: | eng |
| Abstract: | The development of capital markets around the world has given rise to growing interest in how the markets are linked. The study, using the Dow Jones & Co. country and industry indexes, found that the U.S. has statistically significant one-day leads over markets in Europe and Asia, that no significant leads extend beyond one day, that changes in foreign exchange rates contribute to the links among markets, and that the industries designated global are significantly more sensitive to leads than are local industries. Lead / lag relationships may allow yield enhancement, possibly even arbitrage, through trading futures in some markets. |
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