{"id":190759,"date":"2023-05-22T12:46:22","date_gmt":"2023-05-22T16:46:22","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=190759"},"modified":"2023-05-23T10:57:51","modified_gmt":"2023-05-23T14:57:51","slug":"would-a-debt-ceiling-resolution-be-a-sell-the-news-event","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/stocks\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/","title":{"rendered":"Would a Debt Ceiling Resolution Be a “Sell-the-News” Event?"},"content":{"rendered":"\n

We’ve all heard the phrase “buy-the-rumor, sell-the-news.” If you\u2019re an investor who hasn\u2019t, then shame on you. Of all the various old hoary market adages, this is perhaps the most reliable. The logic is sound; if a major piece of news has been discussed sufficiently to be fully discounted by investors, then it is unlikely that any incremental positives will follow. As a result, the affected stocks can fall \u2013 even if the news is good.  <\/p>\n\n\n\n

This could indeed apply to the outcome of the debt ceiling drama. On a quarter-to-date basis, equity markets moved largely sideways<\/a> as the debt drama escalated, then ratcheted higher in recent sessions as signs of progress emerged. Most recently, we saw only a very modest dip on Friday when negotiations broke down, and a modest rally this morning ahead of another meeting between President Biden and Speaker McCarthy. Let\u2019s see how it goes.<\/p>\n\n\n\n

There is some real dissonance between the amount of discussion that is occurring about the effect of a potential debt crisis on equity markets and the generally blas\u00e9 nature of the markets themselves. I\u2019ve had several discussions with concerned investors, but they seem to be doing little in the way of moving into more defensive sectors or hedging with derivatives. <\/p>\n\n\n\n

A discussion that I had this morning made me a bit more concerned that a debt ceiling resolution might not be friendly for stocks.  I was privileged to be part of a discussion on Yahoo Finance<\/a> with Jeanette Lowe, a policy analyst at Strategas, about the topic.  Ms. Lowe highlighted the idea that a lasting agreement would likely involve spending cuts, and reminded the viewer that markets fell after the resolution of the 2011 crisis because there were $2 trillion in cuts.  <\/p>\n\n\n\n

It occurred to me that fiscal policy contraction ahead of a potential recession was sort of Keynesian economics in reverse.\u00a0If we are concerned about a slowdown, then a fiscal bump would be a boon, while a fiscal cut would be an additional headwind \u2013 at least in the short-term.\u00a0Remember, expansionary fiscal and monetary policy were key factors for the booming markets of 2020-21.\u00a0We\u2019ve since gone into reverse on the monetary front \u2013 a 5% rate hike and continued quantitative tightening will do that \u2013 but stocks have been overcoming that headwind this year.\u00a0If a debt resolution results in tighter fiscal policies, it would create yet another hurdle for stocks and the economy.\u00a0\u00a0<\/p>\n\n\n\n

The headwinds would be in the short- to medium-term, at least. A more stable fiscal framework could indeed be a long-term boon for the economy, and hence stocks.  But equity markets tend to discount a few quarters at a time, not years and decades.<\/p>\n\n\n\n

As with all deals, the devil is in the details. If everyone is unhappy with the deal, then it probably means that it contains reasonable compromises from both sides. But if there is no incremental good news to be gained from an agreement and the deal itself is a short-term fiscal drag, then we could easily be looking at the latest in a long series of “buy-the-rumor, sell-the-news” events.<\/p>\n","protected":false},"excerpt":{"rendered":"

We’ve all heard the phrase “buy-the-rumor, sell-the-news.” The logic is sound; if a major piece of news has been discussed sufficiently to be fully discounted by investors, then it is unlikely that any incremental positives will follow. As a result, the affected stocks can fall – even if the news is good. This could indeed apply to the outcome of the debt ceiling drama.<\/p>\n","protected":false},"author":4,"featured_media":190762,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[14700,9,22,26,3],"tags":[10249,15300,1840,6466,12374,15324,4109,10476],"contributors-categories":[13576],"class_list":{"0":"post-190759","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ibkr-market-insights","8":"category-securities","9":"category-stocks","10":"category-text-articles","11":"category-traders-insight","12":"tag-debt-ceiling","13":"tag-debt-crisis","14":"tag-equity-markets","15":"tag-fiscal-policy","16":"tag-market-commentary","17":"tag-speaker-mccarthy","18":"tag-stock-market","19":"tag-us-debt-ceiling","20":"contributors-categories-interactive-brokers"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nWould a Debt Ceiling Resolution Be a “Sell-the-News” Event?<\/title>\n<meta name=\"description\" content=\"We\u2019ve all heard the phrase "buy-the-rumor, sell-the-news."\u00a0The logic is sound; if a major piece of news has been discussed sufficiently to be fully...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/190759\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Would a Debt Ceiling Resolution Be a "Sell-the-News" Event? | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"We\u2019ve all heard the phrase "buy-the-rumor, sell-the-news."\u00a0The logic is sound; if a major piece of news has been discussed sufficiently to be fully discounted by investors, then it is unlikely that any incremental positives will follow. As a result, the affected stocks can fall \u2013 even if the news is good.\u00a0This could indeed apply to the outcome of the debt ceiling drama.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-22T16:46:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-23T14:57:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/05\/debt-ceiling-sell-the-news.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Sosnick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Sosnick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t \"@context\": \"https:\\\/\\\/schema.org\",\n\t \"@graph\": [\n\t {\n\t \"@type\": \"NewsArticle\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\\\/#article\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\\\/\"\n\t },\n\t \"author\": {\n\t \"name\": \"Steve Sosnick\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t },\n\t \"headline\": \"Would a Debt Ceiling Resolution Be a “Sell-the-News” Event?\",\n\t \"datePublished\": \"2023-05-22T16:46:22+00:00\",\n\t \"dateModified\": \"2023-05-23T14:57:51+00:00\",\n\t \"mainEntityOfPage\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\\\/\"\n\t },\n\t \"wordCount\": 551,\n\t \"commentCount\": 1,\n\t \"publisher\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/05\\\/debt-ceiling-sell-the-news.jpg\",\n\t \"keywords\": [\n\t \"debt ceiling\",\n\t \"debt crisis\",\n\t \"equity markets\",\n\t \"fiscal policy\",\n\t \"market commentary\",\n\t \"Speaker McCarthy\",\n\t \"stock market\",\n\t \"US debt ceiling\"\n\t ],\n\t \"articleSection\": [\n\t \"IBKR Insights\",\n\t \"Securities\",\n\t \"Stocks\",\n\t \"Text Articles\",\n\t \"Traders' Insight\"\n\t ],\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"CommentAction\",\n\t \"name\": \"Comment\",\n\t \"target\": [\n\t \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\\\/#respond\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"WebPage\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\\\/\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\\\/\",\n\t \"name\": \"Would a Debt Ceiling Resolution Be a \\\"Sell-the-News\\\" Event? | IBKR Campus US\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t },\n\t \"primaryImageOfPage\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\\\/#primaryimage\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/05\\\/debt-ceiling-sell-the-news.jpg\",\n\t \"datePublished\": \"2023-05-22T16:46:22+00:00\",\n\t \"dateModified\": \"2023-05-23T14:57:51+00:00\",\n\t \"description\": \"We\u2019ve all heard the phrase \\\"buy-the-rumor, sell-the-news.\\\"\u00a0The logic is sound; if a major piece of news has been discussed sufficiently to be fully discounted by investors, then it is unlikely that any incremental positives will follow. As a result, the affected stocks can fall \u2013 even if the news is good.\u00a0This could indeed apply to the outcome of the debt ceiling drama.\",\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"ReadAction\",\n\t \"target\": [\n\t \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\\\/\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"ImageObject\",\n\t \"inLanguage\": \"en-US\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\\\/#primaryimage\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/05\\\/debt-ceiling-sell-the-news.jpg\",\n\t \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/05\\\/debt-ceiling-sell-the-news.jpg\",\n\t \"width\": 1000,\n\t \"height\": 563\n\t },\n\t {\n\t \"@type\": \"WebSite\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t \"name\": \"IBKR Campus US\",\n\t \"description\": \"Financial Education from Interactive Brokers\",\n\t \"publisher\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t },\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"SearchAction\",\n\t \"target\": {\n\t \"@type\": \"EntryPoint\",\n\t \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t },\n\t \"query-input\": {\n\t \"@type\": \"PropertyValueSpecification\",\n\t \"valueRequired\": true,\n\t \"valueName\": \"search_term_string\"\n\t }\n\t }\n\t ],\n\t \"inLanguage\": \"en-US\"\n\t },\n\t {\n\t \"@type\": \"Organization\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t \"name\": \"Interactive Brokers\",\n\t \"alternateName\": \"IBKR\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t \"logo\": {\n\t \"@type\": \"ImageObject\",\n\t \"inLanguage\": \"en-US\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t \"width\": 669,\n\t \"height\": 669,\n\t \"caption\": \"Interactive Brokers\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t },\n\t \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t },\n\t {\n\t \"@type\": \"Person\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\",\n\t \"name\": \"Steve Sosnick\",\n\t \"description\": \"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.\",\n\t \"sameAs\": [\n\t \"https:\\\/\\\/ibkr.com\"\n\t ],\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/steve-sosnick\\\/\"\n\t }\n\t ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Would a Debt Ceiling Resolution Be a “Sell-the-News” Event?","description":"We\u2019ve all heard the phrase \"buy-the-rumor, sell-the-news.\"\u00a0The logic is sound; if a major piece of news has been discussed sufficiently to be fully...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/190759\/","og_locale":"en_US","og_type":"article","og_title":"Would a Debt Ceiling Resolution Be a \"Sell-the-News\" Event? | IBKR Campus US","og_description":"We\u2019ve all heard the phrase \"buy-the-rumor, sell-the-news.\"\u00a0The logic is sound; if a major piece of news has been discussed sufficiently to be fully discounted by investors, then it is unlikely that any incremental positives will follow. As a result, the affected stocks can fall \u2013 even if the news is good.\u00a0This could indeed apply to the outcome of the debt ceiling drama.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/","og_site_name":"IBKR Campus US","article_published_time":"2023-05-22T16:46:22+00:00","article_modified_time":"2023-05-23T14:57:51+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/05\/debt-ceiling-sell-the-news.jpg","type":"image\/jpeg"}],"author":"Steve Sosnick","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Steve Sosnick","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/"},"author":{"name":"Steve Sosnick","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"headline":"Would a Debt Ceiling Resolution Be a “Sell-the-News” Event?","datePublished":"2023-05-22T16:46:22+00:00","dateModified":"2023-05-23T14:57:51+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/"},"wordCount":551,"commentCount":1,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/05\/debt-ceiling-sell-the-news.jpg","keywords":["debt ceiling","debt crisis","equity markets","fiscal policy","market commentary","Speaker McCarthy","stock market","US debt ceiling"],"articleSection":["IBKR Insights","Securities","Stocks","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/","name":"Would a Debt Ceiling Resolution Be a \"Sell-the-News\" Event? | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/05\/debt-ceiling-sell-the-news.jpg","datePublished":"2023-05-22T16:46:22+00:00","dateModified":"2023-05-23T14:57:51+00:00","description":"We\u2019ve all heard the phrase \"buy-the-rumor, sell-the-news.\"\u00a0The logic is sound; if a major piece of news has been discussed sufficiently to be fully discounted by investors, then it is unlikely that any incremental positives will follow. As a result, the affected stocks can fall \u2013 even if the news is good.\u00a0This could indeed apply to the outcome of the debt ceiling drama.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/would-a-debt-ceiling-resolution-be-a-sell-the-news-event\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/05\/debt-ceiling-sell-the-news.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/05\/debt-ceiling-sell-the-news.jpg","width":1000,"height":563},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549","name":"Steve Sosnick","description":"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.com\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/05\/debt-ceiling-sell-the-news.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/190759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=190759"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/190759\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/190762"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=190759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=190759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=190759"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=190759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}