Primary Dealer Total Treasury Fails (Deliver + Receive) in 2020
Primary Dealer Total Treasury Fails (Deliver + Receive) opened 2020 at 133,741 and closed at 88,004, a -34.20% move for the year. The high of 566,148 was reached on March 18, and the low of 88,004 on December 30.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 133,741 | 144,534 | 156,722 | 121,777 | +8.07% |
| Feb | 201,016 | 139,951 | 201,016 | 130,176 | -30.38% |
| Mar | 228,098 | 463,969 | 566,148 | 228,098 | +103.41% |
| Apr | 467,951 | 233,892 | 467,951 | 233,892 | -50.02% |
| May | 256,202 | 175,185 | 256,202 | 175,185 | -31.62% |
| Jun | 147,252 | 176,292 | 284,404 | 147,252 | +19.72% |
| Jul | 139,473 | 151,529 | 169,829 | 139,473 | +8.64% |
| Aug | 136,424 | 119,329 | 162,482 | 119,329 | -12.53% |
| Sep | 146,842 | 142,154 | 150,979 | 123,921 | -3.19% |
| Oct | 144,865 | 131,141 | 144,865 | 105,647 | -9.47% |
| Nov | 180,520 | 159,193 | 180,520 | 150,127 | -11.81% |
| Dec | 137,040 | 88,004 | 143,004 | 88,004 | -35.78% |
Events During 2020
The fastest 30%+ decline in S&P 500 history, followed by the fastest recovery. COVID-19 pandemic triggered unprecedented monetary and fiscal intervention.
Hong Kong's 2019 protests over an extradition bill and Beijing's 2020 National Security Law reshaped the territory's role as Asia's financial hub. Capital outflows, reduced multinational presence, and regulatory divergence from the West had durable effects on regional finance.
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