Fed Primary Credit Lending in 2015
Fed Primary Credit Lending opened 2015 at 17 and closed at 553, a +3152.94% move for the year. The high of 553 was reached on December 30, and the low of 0 on March 18.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 17 | 22 | 143 | 17 | +29.41% |
| Feb | 11 | 3 | 12 | 1 | -72.73% |
| Mar | 12 | 2 | 12 | 0 | -83.33% |
| Apr | 43 | 19 | 43 | 6 | -55.81% |
| May | 1 | 5 | 6 | 1 | +400.00% |
| Jun | 19 | 49 | 54 | 2 | +157.89% |
| Jul | 6 | 8 | 8 | 3 | +33.33% |
| Aug | 3 | 8 | 88 | 3 | +166.67% |
| Sep | 8 | 16 | 21 | 5 | +100.00% |
| Oct | 24 | 0 | 24 | 0 | -100.00% |
| Nov | 11 | 3 | 11 | 0 | -72.73% |
| Dec | 1 | 553 | 553 | 1 | +55200.00% |
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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