JPMorgan Tracking How Trump’s Tweets Move Markets
JPMORGAN INTRODUCES "VOLFEFE" INDEX TO TRACK HOW HIS TWEETS IMPACT FINANCIAL MARKETS.
(CNN) – JPMorgan has created an index to track how president Trump’s tweets affect financial markets.
It’s called the “Volfefe Index;” an apparent combination of the words volatility and Trump’s mysterious “covfefe” tweet from 2017.
The investment banking company’s analysts found Trump’s tweets have a significant impact on interest rates.
JPMorgan says the markets react almost immediately to the president’s posts.
While no specific tweets were listed in the report, some trigger words include “China,” “billion”, and “products.”