We compare news in Twitter with traditional news outlets and emphasize their differential impact on Eurozone's sovereign bond market. We reveal a two-way information flow between Twitter's “Grexit” tweets and “Grexit” mentions in traditional news which suggests not only that both types of news serve as important empirical predictors for the sovereign bond market but also that the “old” (traditional news) and the “new” (Twitter) media are connected; however, the influence of Twitter on traditional news is stronger. Grexit tweets raise the Greek spread more than Grexit mentions in traditional news. Weak contagion effects are reported for Portugal and Ireland.

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您搜索的位置是否重要？Twitter 与传统新闻媒体

我们将 Twitter 上的新闻与传统新闻媒体进行比较，并强调它们对欧元区主权债券市场的不同影响。我们揭示了 Twitter 的“Grexit”推文和传统新闻中提及“Grexit”之间的双向信息流，这表明这两种新闻不仅是主权债券市场的重要实证预测指标，而且表明“旧”（传统新闻）和“新”（推特）媒体相连；然而，推特对传统新闻的影响力更强。希腊退欧的推文比传统新闻中提及的希腊退欧更能提高希腊的传播率。据报道，葡萄牙和爱尔兰的传染效应较弱。