EAFE Developed (EFA) in 2015
EAFE Developed (EFA) opened 2015 at $60.58 and closed at $58.72, a -3.07% move for the year. The high of $68.42 was reached on May 15, and the low of $56.25 on September 29.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $60.58 | $61.22 | $62.29 | $58.48 | +1.06% |
| Feb | $61.96 | $65.1 | $65.25 | $61.96 | +5.07% |
| Mar | $65.2 | $64.17 | $65.99 | $62.52 | -1.58% |
| Apr | $64.63 | $66.51 | $67.81 | $64.63 | +2.91% |
| May | $67.25 | $66.64 | $68.42 | $66.13 | -0.91% |
| Jun | $66.46 | $63.49 | $67.49 | $63.49 | -4.47% |
| Jul | $63.9 | $64.78 | $65.46 | $61.25 | +1.38% |
| Aug | $64.61 | $59.97 | $65.4 | $57.85 | -7.18% |
| Sep | $57.96 | $57.32 | $60.33 | $56.25 | -1.10% |
| Oct | $57.5 | $61.11 | $62.06 | $57.5 | +6.28% |
| Nov | $61.69 | $60.65 | $61.69 | $59.29 | -1.69% |
| Dec | $61.29 | $58.72 | $61.29 | $58.11 | -4.19% |
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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