7-10Y Treasury (IEF) in 2015
7-10Y Treasury (IEF) opened 2015 at $106.53 and closed at $105.59, a -0.88% move for the year. The high of $110.55 was reached on January 30, and the low of $103.8 on June 10.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $106.53 | $110.55 | $110.55 | $106.53 | +3.77% |
| Feb | $110.23 | $107.64 | $110.23 | $106.42 | -2.35% |
| Mar | $106.67 | $108.39 | $108.78 | $105.49 | +1.61% |
| Apr | $108.73 | $107.53 | $108.98 | $107.53 | -1.10% |
| May | $106.78 | $106.92 | $106.92 | $105.54 | +0.13% |
| Jun | $106.28 | $105.01 | $106.28 | $103.8 | -1.19% |
| Jul | $104.3 | $106.44 | $106.44 | $104.3 | +2.05% |
| Aug | $106.6 | $106.36 | $107.83 | $105.64 | -0.23% |
| Sep | $106.67 | $107.87 | $107.87 | $105.81 | +1.12% |
| Oct | $107.79 | $107.02 | $108.49 | $106.81 | -0.71% |
| Nov | $106.55 | $106.4 | $106.55 | $105.19 | -0.14% |
| Dec | $106.8 | $105.59 | $106.95 | $105.38 | -1.13% |
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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