NZ 10Y Govt Bond in 2015
NZ 10Y Govt Bond opened 2015 at 3.42% and closed at 3.55%, a +3.80% move for the year. The high of 3.77% was reached on June 1, and the low of 3.25% on April 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 3.42% | 3.42% | 3.42% | 3.42% | +0.00% |
| Feb | 3.26% | 3.26% | 3.26% | 3.26% | +0.00% |
| Mar | 3.30% | 3.30% | 3.30% | 3.30% | +0.00% |
| Apr | 3.25% | 3.25% | 3.25% | 3.25% | +0.00% |
| May | 3.65% | 3.65% | 3.65% | 3.65% | +0.00% |
| Jun | 3.77% | 3.77% | 3.77% | 3.77% | +0.00% |
| Jul | 3.47% | 3.47% | 3.47% | 3.47% | +0.00% |
| Aug | 3.29% | 3.29% | 3.29% | 3.29% | +0.00% |
| Sep | 3.29% | 3.29% | 3.29% | 3.29% | +0.00% |
| Oct | 3.34% | 3.34% | 3.34% | 3.34% | +0.00% |
| Nov | 3.49% | 3.49% | 3.49% | 3.49% | +0.00% |
| Dec | 3.55% | 3.55% | 3.55% | 3.55% | +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.
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