TIPS (TIP) in 2015
TIPS (TIP) opened 2015 at $112.73 and closed at $109.68, a -2.71% move for the year. The high of $115.63 was reached on January 30, and the low of $109.15 on December 16.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $112.73 | $115.63 | $115.63 | $112.73 | +2.57% |
| Feb | $115.55 | $114.14 | $115.55 | $112.09 | -1.22% |
| Mar | $113.21 | $113.59 | $114.26 | $111.51 | +0.34% |
| Apr | $114.47 | $114.36 | $115.49 | $113.95 | -0.10% |
| May | $113.89 | $113.21 | $113.89 | $112.01 | -0.60% |
| Jun | $112.51 | $112.05 | $112.62 | $110.86 | -0.41% |
| Jul | $111.64 | $112.65 | $113.08 | $111.43 | +0.90% |
| Aug | $112.55 | $111.58 | $112.55 | $110.82 | -0.86% |
| Sep | $111.07 | $110.69 | $111.22 | $110.01 | -0.34% |
| Oct | $111.03 | $110.96 | $111.8 | $110.62 | -0.06% |
| Nov | $110.91 | $110.8 | $110.91 | $109.67 | -0.10% |
| Dec | $111.21 | $109.68 | $111.21 | $109.15 | -1.38% |
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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