Fed Balance Sheet in 2015
Fed Balance Sheet opened 2015 at $4.50T and closed at $4.49T, a -0.29% move for the year. The high of $4.52T was reached on January 14, and the low of $4.46T on May 27.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $4.50T | $4.50T | $4.52T | $4.50T | +0.01% |
| Feb | $4.50T | $4.49T | $4.50T | $4.49T | -0.30% |
| Mar | $4.49T | $4.48T | $4.50T | $4.48T | -0.16% |
| Apr | $4.48T | $4.47T | $4.49T | $4.47T | -0.23% |
| May | $4.47T | $4.46T | $4.50T | $4.46T | -0.20% |
| Jun | $4.47T | $4.50T | $4.50T | $4.47T | +0.67% |
| Jul | $4.48T | $4.49T | $4.50T | $4.48T | +0.14% |
| Aug | $4.49T | $4.48T | $4.49T | $4.48T | -0.25% |
| Sep | $4.48T | $4.48T | $4.50T | $4.48T | +0.18% |
| Oct | $4.49T | $4.49T | $4.50T | $4.49T | +0.07% |
| Nov | $4.49T | $4.48T | $4.49T | $4.48T | -0.28% |
| Dec | $4.48T | $4.49T | $4.50T | $4.48T | +0.19% |
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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