Financial Commercial Paper Outstanding in 2015
Financial Commercial Paper Outstanding opened 2015 at $1B and closed at $1B, a -7.69% move for the year. The high of $1B was reached on January 7, and the low of $0B on June 3.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $1B | $1B | $1B | $1B | -11.22% |
| Feb | $1B | $1B | $1B | $1B | +8.86% |
| Mar | $1B | $1B | $1B | $1B | +4.56% |
| Apr | $1B | $1B | $1B | $1B | +0.03% |
| May | $1B | $0B | $1B | $0B | -6.56% |
| Jun | $0B | $1B | $1B | $0B | +7.13% |
| Jul | $0B | $1B | $1B | $0B | +12.02% |
| Aug | $1B | $1B | $1B | $1B | +0.45% |
| Sep | $1B | $1B | $1B | $1B | -6.23% |
| Oct | $1B | $1B | $1B | $1B | -1.18% |
| Nov | $1B | $1B | $1B | $1B | -1.27% |
| Dec | $0B | $1B | $1B | $0B | +6.23% |
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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