\begin{landscape} \begin{table}[htbp] \centering \small \caption{Price IRF: Novelty on Cumulative Return} \label{ch3:tab:irf_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 & -0.99 & -1.42 & -0.65 & -0.61 & -3.91 \\ & (0.56) & (1.70) & (1.34) & (1.82) & (2.25) \\ VIX Futures & 10.24 & 4.84 & -2.55 & -6.02 & 6.22 \\ & (9.19) & (9.31) & (7.62) & (5.36) & (8.33) \\ 10Y T-Note & 0.82 & 1.17 & 1.52 & 1.87 & 3.70 \\ & (0.60) & (0.97) & (0.91) & (1.09) & (2.15) \\ 5Y T-Note & -0.61 & -0.16 & 0.16 & -0.00 & 1.08 \\ & (0.41) & (0.10) & (0.17) & (0.27) & (0.47) \\ Dollar Index & 0.41 & 0.30 & 0.61 & 0.94 & 0.60 \\ & (1.34) & (1.74) & (1.51) & (1.62) & (2.22) \\ Crude Oil WTI & -0.52 & -0.82 & -3.78 & -2.03 & -1.29 \\ & (3.54) & (4.29) & (7.83) & (6.83) & (6.20) \\ Gold & -1.30 & 0.84 & 0.55 & -1.13 & 2.00 \\ & (1.42) & (2.62) & (2.33) & (1.89) & (2.36) \\ \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 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}