Credit Card Loans (Banks) in 2015
Credit Card Loans (Banks) opened 2015 at $1B and closed at $1B, a +5.71% move for the year. The high of $1B was reached on December 30, and the low of $1B on January 7.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $1B | $1B | $1B | $1B | +0.16% |
| Feb | $1B | $1B | $1B | $1B | -0.06% |
| Mar | $1B | $1B | $1B | $1B | +0.29% |
| Apr | $1B | $1B | $1B | $1B | +0.47% |
| May | $1B | $1B | $1B | $1B | +0.16% |
| Jun | $1B | $1B | $1B | $1B | +0.58% |
| Jul | $1B | $1B | $1B | $1B | +0.59% |
| Aug | $1B | $1B | $1B | $1B | +0.28% |
| Sep | $1B | $1B | $1B | $1B | +0.66% |
| Oct | $1B | $1B | $1B | $1B | +0.12% |
| Nov | $1B | $1B | $1B | $1B | +0.21% |
| Dec | $1B | $1B | $1B | $1B | +0.53% |
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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