The hypothesis that market prices reﬂect all publicly-available information is called eﬃciency in the:

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The hypothesis that market prices reflect all publicly-available information is called the semi-strong form of market efficiency. This means that all publicly-available information, such as news and company announcements, is quickly and accurately reflected in the prices of securities. The other forms are weak form, where past prices and trading volumes are reflected in prices, and strong form, where all information, including insider information, is reflected in prices. The terms "Open form" and "Stable form" are not used in discussions of market efficiency.

The Hypothesis That Market Prices Reﬂect All Publicly-Available Information Is