The Volfefe Index was a stock market index of volatility in market sentiment for US Treasury bonds caused by tweets by former President Donald Trump. [1] [2] [3]
Bloomberg News observed Volfefe was created due to the statistical significance of Trump tweets on bond prices. [1] ABC News Online posited Volfefe could help analyze interest rate risk in the face of "unpredictable" activity on social media by Trump. [2]
The name "Volfefe" is a portmanteau of the words volatility and covfefe, the latter being a word (widely presumed to be a typographical error) posted in a 2017 tweet by Trump. [3] [4] [5]
Volfefe was launched by JPMorgan Chase on September 9, 2019. [1] [3] [4]
In forming the basis of the methodology behind Volfefe, JPMorgan Chase used software to analyse the corpus of Trump's tweets. [6] [7] [8] 14,000 tweets were used in the analysis to form the initial projections for their software. [6] Their analysts determined that there were direct correlations between tweets and subsequent market movements. [5] [7] [8] These market movements were most notably evidenced when the tweet specifically references financial matters including the US Federal Reserve. [2] [9] The tweets issued during the working day of the New York Stock Exchange were more likely to cause a change in market sentiment; however, it was noted that the tweets can come at any time of day and thus have an effect on markets around the world. [2] [9] Key words in tweets often include " China", " billion", "products", " Democrats", "great", "dollars", " tariffs" and "trade". [2] [9]
Bloomberg News noted, "JPMorgan’s 'Volfefe Index,' named after Trump’s mysterious covfefe tweet from May 2017, suggests that the president’s electronic musings are having a statistically significant impact on Treasury yields." [1]
ABC News Online commented JP Morgan created Volfefe, "to measure how much impact Mr Trump's unpredictable tweets have on US interest rates". [2]
The Volfefe Index was a stock market index of volatility in market sentiment for US Treasury bonds caused by tweets by former President Donald Trump. [1] [2] [3]
Bloomberg News observed Volfefe was created due to the statistical significance of Trump tweets on bond prices. [1] ABC News Online posited Volfefe could help analyze interest rate risk in the face of "unpredictable" activity on social media by Trump. [2]
The name "Volfefe" is a portmanteau of the words volatility and covfefe, the latter being a word (widely presumed to be a typographical error) posted in a 2017 tweet by Trump. [3] [4] [5]
Volfefe was launched by JPMorgan Chase on September 9, 2019. [1] [3] [4]
In forming the basis of the methodology behind Volfefe, JPMorgan Chase used software to analyse the corpus of Trump's tweets. [6] [7] [8] 14,000 tweets were used in the analysis to form the initial projections for their software. [6] Their analysts determined that there were direct correlations between tweets and subsequent market movements. [5] [7] [8] These market movements were most notably evidenced when the tweet specifically references financial matters including the US Federal Reserve. [2] [9] The tweets issued during the working day of the New York Stock Exchange were more likely to cause a change in market sentiment; however, it was noted that the tweets can come at any time of day and thus have an effect on markets around the world. [2] [9] Key words in tweets often include " China", " billion", "products", " Democrats", "great", "dollars", " tariffs" and "trade". [2] [9]
Bloomberg News noted, "JPMorgan’s 'Volfefe Index,' named after Trump’s mysterious covfefe tweet from May 2017, suggests that the president’s electronic musings are having a statistically significant impact on Treasury yields." [1]
ABC News Online commented JP Morgan created Volfefe, "to measure how much impact Mr Trump's unpredictable tweets have on US interest rates". [2]