Treasury General Account in 2015
Treasury General Account opened 2015 at $177B and closed at $290B, a +64.28% move for the year. The high of $290B was reached on December 30, and the low of $30B on November 4.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $177B | $201B | $201B | $158B | +13.79% |
| Feb | $167B | $68B | $167B | $68B | -59.28% |
| Mar | $50B | $86B | $86B | $39B | +72.49% |
| Apr | $75B | $220B | $220B | $50B | +191.12% |
| May | $228B | $176B | $228B | $176B | -22.83% |
| Jun | $186B | $239B | $239B | $178B | +28.91% |
| Jul | $227B | $197B | $227B | $176B | -13.47% |
| Aug | $204B | $129B | $204B | $129B | -36.82% |
| Sep | $120B | $145B | $154B | $86B | +20.62% |
| Oct | $83B | $47B | $83B | $47B | -43.51% |
| Nov | $30B | $163B | $163B | $30B | +448.72% |
| Dec | $213B | $290B | $290B | $187B | +36.53% |
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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