Do you think this would be useful in a trading or risk management context ?

Hi everyone. I'm thinking of doing research on the impact of macroeconomic news on government bond and stock futures. I guess I should state the most basic premise to put things into context. In it's most elementary form, it will involve a simple model regressing macroeconomic news surprises (ie. unanticipated news from various economic indicators) on the change in the yields and/or returns of government bond futures, and stock index futures. I'm not really sure if this can be used in some way to benefit say a trader or risk manager. If it can even slightly, then I guess I can expand further from that basic premise. So basically, I want to know if having this kind of information (ie. knowing the impact of unexpected macroeconomic news on futures prices) could be used to make some speculative profit or manage risk? Can this kind of info be used to trade the news? Any comments would be greatly appreciated. Thanks!