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U.S. President Donald Trump gets market-moving information long before its released to the public. More

U.S. President Donald Trump gets market-moving information long before its released to the public. More

A positive jobs report does not necessarily mean the stock market will go up, as investors could see it as a signal that the Federal Reserve will move more aggressively to raise interest rates in an effort to keep the economy from overheating.

There's good reason to have deep concerns about Trump's propensity for breaking the rules. This movement can be attributed to President Barack Obama's administration.

"Except for members of the staff of the agency issuing the principal economic indicator who have been designated by the agency head to provide technical explanations of the data, employees of the Executive Branch shall not comment publicly on the data until at least one hour after the official release time", the directive added.

Ari Fleischer, a Republican who served in President George W. Bush's administration and has been an occasional Trump adviser, also took exception, tweeting: "This certainly was a no-no. It's not the first norm he's breached; I think I've lost count of how many norms he's ignored or violated".

Larry Kudlow, the president's top economic adviser, downplayed Trump's tweet. They appear to have read Trump's tweet correctly.

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"Why not? He didn't give any numbers", Kudlow told reporters at the White House.

The Bureau of Labor Statistics publishes the jobs report on the first Friday of each month at 8:30 a.m. Nonetheless, he said the markets were selling off bonds before Trump's tweet, signaling expectation of a strong jobs report.

"I think he's overreacting", Kudlow said of Trudeau on the "Fox News Sunday" program.

"They're treated like state secrets", Alan Krueger, former chairman of the Council of Economic Advisers in the Obama administration, said in an interview with Bloomberg Radio before the employment report came out.

"He simply ignored the wall", New York University presidential historian Timothy Naftali said of Trump's post Friday.

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Social media users saw the message as evidence that Trump had seen the numbers, and that they were good. "There wasn't a reaction beyond the markets' reactions to other (Trump) tweets", he said. Bloomberg News data also showed that the value of the USA dollar moved sharply higher after the Twitter post compared with previous trades the mornings jobs data are released.

The news comes even as Trump has announced new tariffs as high as 25 percent on imported steel and aluminum from the European Union, Canada and Mexico, triggering retaliation from USA allies and protests from American industry.

"It doesn't look good", said Mark Hamrick, Bankrate.com's senior economic analyst. Obama said then: "Tomorrow, we're expecting another dismal jobs report". "People who happened to be on Twitter at 7:21, you learned that the president was likely happy with the jobs report".

The incident marked the second time that Trump may have strayed beyond the boundaries set by the Office of Management and Budget directive. Everyone with advance access to the data at the BLS and the White House have to swear not to say anything about it until they're released.

By 8:30 a.m., when Labor, indeed, revealed stronger than expected jobs growth in May - 233,000 jobs created compared to estimates of 190,000 - the yield on the 10-year had spiked to 2.9186. Their ranks have fallen by almost one-third in the past year.

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