\begin{landscape} \begin{table}[htbp] \centering \small \caption{Price IRF: Policy Stance on Cumulative Return} \label{tab:irf_stance_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 & 0.23 & 1.98 & 3.76 & 6.82 & 11.98 \\ & (0.92) & (2.11) & (2.76) & (3.31) & (6.76) \\ VIX Futures & -14.74 & -19.11 & -22.03 & -17.73 & -14.27 \\ & (6.26) & (8.33) & (9.47) & (14.62) & (31.57) \\ 10Y T-Note & -0.61 & -1.14 & -0.90 & -1.47 & -3.88 \\ & (0.43) & (0.85) & (0.93) & (0.92) & (2.20) \\ 5Y T-Note & 0.89 & 0.63 & 0.90 & 0.79 & -0.71 \\ & (0.34) & (0.35) & (0.55) & (0.51) & (1.34) \\ Dollar Index & 1.01 & 1.43 & 1.05 & -0.45 & -4.01 \\ & (0.43) & (0.61) & (0.45) & (0.89) & (2.14) \\ Crude Oil WTI & -2.10 & -0.81 & 4.75 & 3.06 & 9.32 \\ & (4.28) & (6.28) & (8.46) & (10.23) & (9.69) \\ Gold & -1.47 & -3.08 & 0.51 & 0.62 & 1.31 \\ & (1.30) & (1.42) & (2.04) & (2.46) & (3.96) \\ \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 Policy Stance 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}