\begin{landscape} \begin{table}[htbp] \centering \small \caption{Price IRF: Stance $\times$ Novelty on Cumulative Return} \label{ch3:tab:irf_stance_x_novelty_ret_h} \begin{threeparttable} \begin{tabular}{lccccc} \toprule & $h = 5$ min & $h = 15$ min & $h = 30$ min & $h = 60$ min & $h = 120$ min \\ \midrule E-mini S\&P 500 & 2.78 & 6.91 & 8.27 & 9.47 & 6.35 \\ & (1.36) & (4.14) & (4.39) & (4.61) & (4.49) \\ VIX Futures & -28.02** & -47.97** & -61.74*** & -51.80*** & -44.06* \\ & (8.62) & (12.75) & (15.54) & (10.66) & (14.53) \\ 10Y T-Note & -1.76 & -3.53 & -3.68 & -4.77 & -5.70 \\ & (0.85) & (1.68) & (1.74) & (1.88) & (2.84) \\ 5Y T-Note & 1.15 & -0.03 & 0.24 & -0.19 & 0.63 \\ & (0.57) & (0.10) & (0.16) & (0.28) & (0.46) \\ Dollar Index & 2.96 & 4.05 & 3.16 & 3.32 & 2.83 \\ & (1.15) & (1.53) & (1.27) & (1.41) & (2.21) \\ Crude Oil WTI & 7.62 & 7.77 & 19.17 & 16.07 & 18.35 \\ & (7.45) & (11.46) & (18.20) & (19.84) & (18.66) \\ Gold & 1.48 & -5.97* & -2.19 & 1.94 & -0.60 \\ & (1.59) & (2.08) & (1.57) & (2.34) & (2.13) \\ \midrule $N$ & 148 & 148 & 148 & 148 & 148 \\ \bottomrule \end{tabular} \begin{tablenotes}[flushleft] \small \item \textit{Notes:} Jord\`a (2005) local projection: $\text{CumRet}_i(0 \to h) = \alpha + \beta_1 \text{Stance} + \beta_2 \text{Novelty} + \beta_3 \text{Stance} \times \text{Novelty} + \varepsilon$. Coefficient on Stance $\times$ Novelty reported in basis points ($\times 10^4$). All regressors z-scored. Newey--West HAC standard errors in parentheses. Pre-announcement placebo test passed: no significant pre-event coefficients. \item $^{***}p<0.01$, $^{**}p<0.05$, $^{*}p<0.10$ (Benjamini--Hochberg adjusted within each (DV, model) family). \end{tablenotes} \end{threeparttable} \end{table} \end{landscape}