Nonfinancial Commercial Paper Outstanding in 2015
Nonfinancial Commercial Paper Outstanding opened 2015 at $0B and closed at $0B, a -7.26% move for the year. The high of $0B was reached on October 21, and the low of $0B on December 30.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $0B | $0B | $0B | $0B | +11.64% |
| Feb | $0B | $0B | $0B | $0B | -2.16% |
| Mar | $0B | $0B | $0B | $0B | -3.00% |
| Apr | $0B | $0B | $0B | $0B | +7.78% |
| May | $0B | $0B | $0B | $0B | -1.97% |
| Jun | $0B | $0B | $0B | $0B | +0.67% |
| Jul | $0B | $0B | $0B | $0B | +7.03% |
| Aug | $0B | $0B | $0B | $0B | -0.17% |
| Sep | $0B | $0B | $0B | $0B | -6.96% |
| Oct | $0B | $0B | $0B | $0B | +1.91% |
| Nov | $0B | $0B | $0B | $0B | -2.20% |
| Dec | $0B | $0B | $0B | $0B | -16.18% |
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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