Nobel Prize for economics awarded to Hall and Woodford for work on ‘smoothing’ crises
Published . Updated .
US economists developed models that help central bankers and finance ministers to stabilise their economies Business live – latest updates Two US economists have won the 2026 Nobel economics prize for their work developing models that help central bankers and finance ministers to stabilise their countries, avoiding long recessions and runaway inflation. Robert Hall of Stanford University, California, and Michael Woodford of Columbia University, New York, were recognised for developing the “microeconomic foundations of macroeconomic stabilisation” , giving policymakers better tools to smooth out the peaks and troughs of their economies. Continue reading...
Directly affected
- No company is named in this report.
Indirectly affected
- TLT iShares 20+ Year Treasury Bond
Long-term bonds move when yields change
- IEF iShares 7-10 Year Treasury Bond
Treasury bonds move when yields change
- SHY iShares 1-3 Year Treasury Bond
Short-term bonds move when the Fed changes rates
- SPY SPDR S&P 500
Stocks move when the Fed changes the rate path
- JPM JPMorgan Chase
Bank profits move with lending and interest rates
- BAC Bank of America
Bank profits move with lending and interest rates
- GS Goldman Sachs
Bank profits move with lending and interest rates
- XLF Financial Select Sector SPDR
A fund of financial companies
- KRE SPDR S&P Regional Banking
Regional banks are sensitive to interest rates
- PPA INVESCO AEROSPACE & DEFENSE ETF
GA selected PPA as a RELATED security because its canonical security name directly matches this event's themes: defense. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
Price reaction, T-5 to T+3
US economists developed models that help central bankers and finance ministers to stabilise their economies Business live – latest updates Two US economists have won the 2026 Nobel economics prize for their work developing models that help…
Source: The Guardian
Invesco Aerospace & Defense Etf (PPA) since this story, compared with the market
Since the first closing price after “Nobel Prize for economics awarded to Hall and Woodford for work on ‘smoothing’ crises,” Invesco Aerospace & Defense Etf (PPA) is +1.89%. The S&P 500 fund (SPY) is -1.47% over the same days, a +3.36% difference versus the market.
| Company | When | Move | Status |
|---|---|---|---|
| BAC | that day | +0.48% | final price |
| BAC | the next day | -0.66% | final price |
| BAC | two days later | -5.34% | final price |
| BAC | three days later | -4.84% | final price |
| BAC | three days earlier | -1.44% | final price |
| BAC | five days earlier | -0.48% | final price |
| GS | that day | -0.12% | final price |
| GS | the next day | -0.37% | final price |
| GS | two days later | -1.86% | final price |
| GS | three days later | -0.47% | final price |
| GS | three days earlier | -0.88% | final price |
| GS | five days earlier | -0.18% | final price |
| IEF | that day | +0.04% | final price |
| IEF | the next day | +0.16% | final price |
| IEF | two days later | +0.34% | final price |
| IEF | three days later | +1.06% | final price |
| IEF | three days earlier | -0.31% | final price |
| IEF | five days earlier | -0.55% | final price |
| JPM | that day | +0.47% | final price |
| JPM | the next day | -0.44% | final price |
| JPM | two days later | +0.70% | final price |
| JPM | three days later | +0.77% | final price |
| JPM | three days earlier | -1.04% | final price |
| JPM | five days earlier | -0.20% | final price |
| KRE | that day | +0.66% | final price |
| KRE | the next day | +0.01% | final price |
| KRE | two days later | -0.65% | final price |
| KRE | three days later | +0.94% | final price |
| KRE | three days earlier | -0.17% | final price |
| KRE | five days earlier | +1.97% | final price |
Who gains and who loses around Invesco Aerospace & Defense Etf (PPA)
Companies carried with this story
- PPA Invesco Aerospace & Defense Etf
For “Nobel Prize for economics awarded to Hall and Woodford for work on ‘smoothing’ crises,” Invesco Aerospace & Defense Etf (PPA) is linked, with no stored direction, medium confidence. Reason on file: GA selected PPA as a RELATED security because its canonical security name directly matches this event's themes: defense. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- WAR U.S. Global Technology And Aerospace & Defense Etf
For “Nobel Prize for economics awarded to Hall and Woodford for work on ‘smoothing’ crises,” U.S. Global Technology And Aerospace & Defense Etf (WAR) is linked, with no stored direction, medium confidence. Reason on file: GA selected WAR as a RELATED security because its canonical security name directly matches this event's themes: defense. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
Invesco Aerospace & Defense Etf (PPA)
“Nobel Prize for economics awarded to Hall and Woodford for work on ‘smoothing’ crises” (12 Oct 2026) reaches Invesco Aerospace & Defense Etf (PPA) through this story.
Invesco Aerospace & Defense Etf (PPA) is on the page because GA selected PPA as a RELATED security because its canonical security name directly matches this event's themes: defense. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
U.S. Global Technology And Aerospace & Defense Etf (WAR) is here too. Its reason reads: GA selected WAR as a RELATED security because its canonical security name directly matches this event's themes: defense. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
Dates and price levels for Invesco Aerospace & Defense Etf (PPA)
PPA traded between 151.56 and 162.12 across 20 sessions. The latest close on file is 156.07. WAR traded between 27.98 and 32.67 across 18 sessions. The latest close on file is 28.45.
A simple score for Invesco Aerospace & Defense Etf (PPA)
21 out of 100
“Nobel Prize for economics awarded to Hall and Woodford for work on ‘smoothing’ crises” scores 21 out of 100. The score uses 1 sources, and 2 linked companies.