IG Credit (LQD) in 2015
IG Credit (LQD) opened 2015 at $119.83 and closed at $114.01, a -4.86% move for the year. The high of $123.89 was reached on January 30, and the low of $113.82 on December 29.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $119.83 | $123.89 | $123.89 | $119.83 | +3.39% |
| Feb | $123.67 | $121.8 | $123.67 | $120.27 | -1.51% |
| Mar | $120.42 | $121.71 | $121.95 | $119.15 | +1.07% |
| Apr | $121.73 | $119.94 | $122.22 | $119.84 | -1.47% |
| May | $118.95 | $118.27 | $119.01 | $117.21 | -0.57% |
| Jun | $117.28 | $115.72 | $117.28 | $114.94 | -1.33% |
| Jul | $115.02 | $116.35 | $116.56 | $114.8 | +1.16% |
| Aug | $116.29 | $115.06 | $116.29 | $115.03 | -1.06% |
| Sep | $115.42 | $116.09 | $116.25 | $114.74 | +0.58% |
| Oct | $115.73 | $116.42 | $117.59 | $115.73 | +0.60% |
| Nov | $115.59 | $115.91 | $115.91 | $114.56 | +0.28% |
| Dec | $116.45 | $114.01 | $116.45 | $113.82 | -2.10% |
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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