Historical Year Data · 2022
Primary Dealer Fails to Deliver — Treasuries in 2022
Primary Dealer Fails to Deliver — Treasuries opened 2022 at 89,271 and closed at 134,040, a +50.15% move for the year. The high of 421,826 was reached on September 28, and the low of 84,497 on March 16.
Open
89,271
2022-01
Close
134,040
52 data points
High
421,826
Sep 28
Low
84,497
Mar 16
Full Year Change
+50.15%
2021 Change
+41.05%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 89,271 | 113,532 | 113,532 | 86,871 | +27.18% |
| Feb | 122,152 | 89,150 | 122,152 | 89,150 | -27.02% |
| Mar | 138,273 | 164,905 | 164,905 | 84,497 | +19.26% |
| Apr | 241,108 | 137,804 | 241,108 | 121,655 | -42.85% |
| May | 150,091 | 125,858 | 150,091 | 101,366 | -16.15% |
| Jun | 167,819 | 182,750 | 223,428 | 122,774 | +8.90% |
| Jul | 135,542 | 154,702 | 154,702 | 121,307 | +14.14% |
| Aug | 182,832 | 147,654 | 182,832 | 147,654 | -19.24% |
| Sep | 156,959 | 421,826 | 421,826 | 149,791 | +168.75% |
| Oct | 244,334 | 126,348 | 244,334 | 126,348 | -48.29% |
| Nov | 151,192 | 121,749 | 151,192 | 120,830 | -19.47% |
| Dec | 133,071 | 134,040 | 148,961 | 114,024 | +0.73% |
Events During 2022
2022 Fed Rate Hiking Cycle
Stagflation
March–December 2022
The Fed raised rates 425bps in 2022, the fastest hiking cycle since the Volcker era. The 60/40 portfolio posted its worst year since 1937.
2022 UK Mini-Budget & Gilt Crisis
Stagflation
September 23 – October 14, 2022
UK Prime Minister Liz Truss's September 23, 2022 mini-budget triggered a collapse in sterling and gilts. LDI pension strategies faced forced liquidation. The Bank of England intervened to prevent financial instability.
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