Commercial Paper Outstanding in 2015
Commercial Paper Outstanding opened 2015 at $1B and closed at $1B, a -2.70% move for the year. The high of $1B was reached on January 7, and the low of $1B on June 3.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $1B | $1B | $1B | $1B | -7.24% |
| Feb | $1B | $1B | $1B | $1B | +3.84% |
| Mar | $1B | $1B | $1B | $1B | +3.34% |
| Apr | $1B | $1B | $1B | $1B | +1.27% |
| May | $1B | $1B | $1B | $1B | -7.07% |
| Jun | $1B | $1B | $1B | $1B | +3.95% |
| Jul | $1B | $1B | $1B | $1B | +11.16% |
| Aug | $1B | $1B | $1B | $1B | -1.72% |
| Sep | $1B | $1B | $1B | $1B | -7.19% |
| Oct | $1B | $1B | $1B | $1B | +1.08% |
| Nov | $1B | $1B | $1B | $1B | -0.07% |
| Dec | $1B | $1B | $1B | $1B | +1.25% |
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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