JP Morgan has created an index to track the effect of Trump's tweets on financial markets
CNBC
Donald Trump is tweeting more and its affecting the bond market.
In fact, the presidents market-moving tweets ballooned in August as he hammered China on trade and went after the Federal Reserve on interest rates.
In an attempt to quantify the impact of Trumps tweets on the bond market, J.P. Morgan devised a Volfefe Index to analyze how the presidents tweets are influencing volatility in U.S. interest rates.
J.P. Morgan found that the index, named after Trumps infamous and still mysterious covfefe tweet, explains a measurable fraction of the moves in implied rate volatility for 2-year and 5-year Treasurys.
This makes rough sense as much of the presidents tweets have been focused on the Federal Reserve, and as trade tensions are broadly seen as, first and foremost, impactful on near-term economic performance and, likewise, the Feds reaction to such developments, wrote the authors of the J.P. Morgan report.