20Y+ Treasury (TLT) in 2015
20Y+ Treasury (TLT) opened 2015 at $127.32 and closed at $120.58, a -5.29% move for the year. The high of $138.28 was reached on January 30, and the low of $115.23 on June 26.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $127.32 | $138.28 | $138.28 | $127.32 | +8.61% |
| Feb | $137.48 | $129.53 | $137.48 | $126.17 | -5.78% |
| Mar | $126.87 | $130.69 | $132.62 | $123.5 | +3.01% |
| Apr | $132.13 | $125.95 | $132.13 | $125.73 | -4.68% |
| May | $124 | $122.71 | $124 | $118.49 | -1.04% |
| Jun | $121.13 | $117.46 | $121.13 | $115.23 | -3.03% |
| Jul | $115.62 | $122.53 | $122.53 | $115.62 | +5.98% |
| Aug | $123.55 | $121.42 | $126.4 | $121.42 | -1.72% |
| Sep | $122.03 | $123.54 | $123.97 | $118.8 | +1.24% |
| Oct | $123.81 | $122.78 | $124.56 | $121.86 | -0.83% |
| Nov | $121.95 | $121.45 | $121.95 | $118.33 | -0.41% |
| Dec | $122.83 | $120.58 | $123.76 | $119.53 | -1.83% |
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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