10-Year Note Primary Dealer Share in 2015
10-Year Note Primary Dealer Share opened 2015 at 40.77% and closed at 25.96%, a -36.31% move for the year. The high of 40.77% was reached on January 13, and the low of 18.48% on May 13.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 40.77% | 40.77% | 40.77% | 40.77% | +0.00% |
| Feb | 27.74% | 27.74% | 27.74% | 27.74% | +0.00% |
| Mar | 31.16% | 31.16% | 31.16% | 31.16% | +0.00% |
| Apr | 32.23% | 32.23% | 32.23% | 32.23% | +0.00% |
| May | 18.48% | 18.48% | 18.48% | 18.48% | +0.00% |
| Jun | 29.93% | 29.93% | 29.93% | 29.93% | +0.00% |
| Jul | 29.74% | 29.74% | 29.74% | 29.74% | +0.00% |
| Aug | 33.33% | 33.33% | 33.33% | 33.33% | +0.00% |
| Sep | 28.64% | 28.64% | 28.64% | 28.64% | +0.00% |
| Oct | 27.53% | 27.53% | 27.53% | 27.53% | +0.00% |
| Nov | 25.01% | 25.01% | 25.01% | 25.01% | +0.00% |
| Dec | 25.96% | 25.96% | 25.96% | 25.96% | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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