In a gigantic breach of protocol, Trump stupidly hinted at jobs numbers over an hour before the official release this morning.  Early markets were roiled by the tweet.  Trump violated his primary responsibility to the American people which is to protect them and the economy.  To self aggrandize, he simply couldn’t resist front running a positive jobs report.  Here is a chart of pre-open dollar moves by month.  The one on the right is today’s:

.2% doesn’t sound like much, but it is billions of dollars in value changing hands.  Trump is so narcissistically disabled that he has no understanding of the effect of his words.  Everything is about him, his grievance, his gnawing need to be praised and the victor that he simple blurts out whatever he believes makes him looks good.

The markets listen very closely to every single syllable uttered by the president and his representatives.  His words carry awesome authority.  Our system of government is not only one of laws, but over 230 years of protocol and tradition.  It’s not set up to endure a feckless moron.  His unpredictable behavior is causing enormous damage in 2 ways: he’s normalizing outrageous behavior which desensitizes the market to actual risks, and his erratic tweeting is shifting billions of dollars of actual value within the market that has introduced unsystematic risk.  The markets hate not understanding risks.

This tweet this morning is one of the most outrageous breaches of confidentiality we’ve yet to see.  And that’s saying a a lot.