We’re not making this up: A new economic indicator, the The Volfefe Index, is named after Prznint Stupid’s infamous covfefe tweet.
JPMorgan Chase has a serious index to measure the impact of President Donald Trump’s tweets on financial markets.
“We find strong evidence that tweets have increasingly moved U.S. rates markets immediately after publication.”
Oh, Jeebus, we’re eff’ed in the dark!
JPMorgan has a new index — called the “Volfefe Index” — that measures Trump’s tweets and their impact on bond volatility. (1/x) pic.twitter.com/D37ocdebxk
— Carl Quintanilla (@carlquintanilla) September 8, 2019
Those days that Trump tweets frequently—more than his abnormal rate—have also been linked to negative stock market returns, according to Bank of America Merrill Lynch.
So the next time you wonder why people are paying excessive attention to this moron’s tweeting, it’s not always just because he’s insane. It’s because he’s insane and messing up the markets.