JPMorgan has created 'Volfefe,' an index to track the impact of President Trump's tweets on the market
Now analysts at JPMorgan have created an index to track the impact of Trump's tweets on US interest rates. Its name? The"Volfefe Index," an apparent mashup of volatility and a certain"covfefe" tweet that launched a social media frenzy back in 2017.The analysts found that Trump's tweets have significantly increased volatility. They say the frequency of market-moving tweets from Trump"ballooned" in August, and that US rates markets are paying more attention.
— Donald J. Trump August 23, 2019 JPMorgan does not include any specific Trump tweets in its report introducing the index, but identifies a series of trigger words for markets. Those include"China,""billion" and"products."Read MoreThe bank concedes that its model is"hardly a tweet savant" — but maintains that the results it produces are"firmly statistically significant.
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