Markets

Transition midpoint

ADF statistic

0.029^***

(21.79)

0.089^***

(73.96)

0.015^***

(10.72)

0.623^***

(338.79)

−0.021^***

(13.97)

−0.0013^***

(20.28)

1/30/2009

−5.70^***

0.67

0.093

(0.79)

0.094^***

(31.33)

0.279

(0.46)

0.344^***

(804.59)

−0.001

(0.77)

0.001^***

(6.43)

4/12/2004

−9.54^***

0.21

0.085^***

(9.15)

0.320^***

(38.02)

0.003^***

(12.02)

0.463^***

(103.38)

−0.020^***

(2.67)

0.003^***

(14.86)

5/01/2006

−10.02^***

0.61

0.054^***

(11.82)

0.155^***

(37.51)

0.004^***

(10.24)

0.457^***

(81.32)

−0.086^***

(23.28)

0.003^***

(16.77)

8/10/2006

−7.07^***

0.60

0.028^***

(6.24)

0.072^***

(28.08)

0.198

(0.99)

0.345^***

(265.09)

−0.019^***

(4.94)

0.004^***

(27.50)

4/19/2004

−13.13^***

0.25

−0.026^***

(4.04)

0.202^***

(36.18)

0.004^***

(11.61)

0.361^***

(56.37)

0.004

(1.05)

0.005^***

(22.90)

7/27/2004

−9.72^***

0.81

0.050^***

(29.37)

0.078^***

(59.12)

0.031^***

(10.61)

0.411^***

(106.32

−0.053^***

(36.87)

0.007^***

(100.64)

6/07/2005

−15.04^***

0.78

0.153^***

(35.98)

0.095^***

(23.31)

0.016^***

(4.06)

0.512^***

(112.42)

−0.037^***

(8.63)

0.003^***

(15.57)

3/05/2007

−10.80^***

0.30