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Trump Tweets Are Impacting Markets, JP Morgan Developed An Index

Trump Tweets Are Impacting Markets, JP Morgan Made An Index

The US bank, JP Morgan, has put together an index that will monitor the waves of tweets by President Donald Trump. According to an article on CNBC attributed to Emma Newburger, out of about 4,000 non-retweets by Trump occurring during market hours from 2018 to the present, only 146 moved markets. According to this piece, President Trump is tweeting more and it is affecting the bond market.

So there is an attempt to quantify the impact of the waves of tweets about the Fed and other parts of trade or the economy that impact the bond market. It is called the “Volfefe Index” and is likely a great way to look at the month of August for example when the political theater of Mr Trump hit new highs. Since 2016 Trump has averaged about 10 tweets each day, with 10,000 occurring after the 2017 inauguration. The number of trade related tweets, or those on tax policy or Fed policy have increased in recent months and of course with 146 being market moving, this index may prove useful.

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