The U.S. Treasury market is showing increased sensitivity to the tweets of President Donald Trump, with signs that algorithmic and high-speed traders are retooling models to take the social media posts into account, according to an analysis by JPMorgan Chase & Co.
“This intuitively fits the mood of the political moment, where policy decisions are frequently communicated via that channel with limited preliminary coverage or analysis in public media,” wrote interest-rate strategists led by Josh Younger.
Who can figure out the true meaning of "covfefe" ??? Enjoy!— Donald J. Trump (@realDonaldTrump) May 31, 2017
Do the President's tweets impact stocks? JPMorgan's "Volfefe" Index finding that out of 4,000 original tweets by @realdonaldtrump during market hours, only 146 moved the market. pic.twitter.com/hZm3sh0BUo— CNBC's Closing Bell (@CNBCClosingBell) September 9, 2019
Trump's tweets are having an outsized impact on Treasury yields, JPMorgan's bizarrely-named 'Volfefe' index shows https://t.co/W3AS51w90u— Business Insider (@businessinsider) May 4, 2020
Trump tweets and the Volfefe score. pic.twitter.com/Fub5aB4D40— 𝙼𝚊𝚌𝚛𝚘𝚑𝚎𝚍𝚐𝚎𝚍 📰 (@macrohedged) May 3, 2020
randomly remembered covfefe and i think u all should too pic.twitter.com/mmDAcwJjHn— kert ♈︎ (@liluzikerrrt) May 3, 2020