Lemme bore you by telling you why this tweet was an effing outrage. The jobs numbers are released at 8:30am. The President is traditionally told the numbers the night before, but told to play them close to his chest. But at 7:21am he's telling us all to tune in. Wonder why.https://twitter.com/realDonaldTrump/status/1002510522032541701 …
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Dozens of federal employees who go to enormous lengths to make sure that no-one (beyond the White House) can get a jump on the numbers and front-run the market. But the President just big-footed them. And really, who's surprised that the numbers were stronger than expected?
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Here's the problem: Who wants to buy U.S. stocks, if you think there's a chance that you might be buying from someone who's selling based on Trump having said something to them on the phone last night? Even if this effect is small, what's the upside from Trump's tweet?
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And you can't put the genie back in the bottle: Next jobs day, if at 7:21am Trump tweets about Roseanne or some other dumb thing that's not the jobs day, markets will infer he doesn't want to talk about the jobs report. Watch: Stocks will fall as a result.
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This is like if former manager Pete Rose bet on the Cincinnati Reds winning every game but one.
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