Monetary policy actions (conventional and unconventional) are important events that are expected to affect asset prices, especially during periods of financial turmoil. Although many studies examine their effect on asset prices there is a lack of empirical evidence on their impact on investor...

This paper tests for herding towards the market consensus for US and UK leading stocks, and to the best of our knowledge addresses a gap in the literature regarding the importance of major fundamental macroeconomic announcements. The results indicate that US investors tend to herd during days...