2025-05-28-Jefferies-邀请-经济政策不确定性（EPU）与股票市场表现_7页_123kb

Economic Policy Uncertainty (EPU) is strongly correlated with market volatility, measured by the VIX, and can serve as a valuable tool for investors, as highlighted in the Washington Strategy. This report invites participation in a webinar on Thursday, May 29, 2025, at 8:00 AM ET, focusing on five key questions: defining a "large" monthly change in EPU, its impact on the market, the nature of market reactions (coincident, leading, or lagging), concerns about persistent high EPU or spikes, and whether declines in EPU are associated with positive returns. The session will be co-hosted with JEF Quant Strategy to address these topics.

Key questions addressed in the webinar include:

• What constitutes a 'large' monthly-on-month (MoM) change in EPU?
• How does a large EPU MoM change affect the equity market?
• Is the market reaction to EPU coincident or an indicator?
• Should investors be concerned with consistently high EPU levels or isolated spikes?
• Are declines in EPU most associated with positive market returns?