2-Year Note Auction Bid-to-Cover in 2015
2-Year Note Auction Bid-to-Cover opened 2015 at 3.74 and closed at 2.8, a -25.13% move for the year. The high of 3.74 was reached on January 28, and the low of 2.8 on December 28.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 3.74 | 3.74 | 3.74 | 3.74 | +0.00% |
| Feb | 3.45 | 3.45 | 3.45 | 3.45 | +0.00% |
| Mar | 3.46 | 3.46 | 3.46 | 3.46 | +0.00% |
| Apr | 3.3 | 3.3 | 3.3 | 3.3 | +0.00% |
| May | 3.4 | 3.4 | 3.4 | 3.4 | +0.00% |
| Jun | 3.28 | 3.28 | 3.28 | 3.28 | +0.00% |
| Jul | 3.42 | 3.42 | 3.42 | 3.42 | +0.00% |
| Aug | 3.16 | 3.16 | 3.16 | 3.16 | +0.00% |
| Sep | 3.27 | 3.27 | 3.27 | 3.27 | +0.00% |
| Nov | 3.01 | 3.15 | 3.15 | 3.01 | +4.65% |
| Dec | 2.8 | 2.8 | 2.8 | 2.8 | +0.00% |
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.
Related Metrics
Get historical context as markets unfold, regime classification, scenario triggers, and analysis in your inbox.