Non-Revolving Consumer Credit in 2015
Non-Revolving Consumer Credit opened 2015 at $2439B and closed at $2502B, a +2.59% move for the year. The high of $2593B was reached on November 1, and the low of $2439B on January 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $2439B | $2439B | $2439B | $2439B | +0.00% |
| Feb | $2453B | $2453B | $2453B | $2453B | +0.00% |
| Mar | $2470B | $2470B | $2470B | $2470B | +0.00% |
| Apr | $2484B | $2484B | $2484B | $2484B | +0.00% |
| May | $2499B | $2499B | $2499B | $2499B | +0.00% |
| Jun | $2520B | $2520B | $2520B | $2520B | +0.00% |
| Jul | $2533B | $2533B | $2533B | $2533B | +0.00% |
| Aug | $2546B | $2546B | $2546B | $2546B | +0.00% |
| Sep | $2567B | $2567B | $2567B | $2567B | +0.00% |
| Oct | $2581B | $2581B | $2581B | $2581B | +0.00% |
| Nov | $2593B | $2593B | $2593B | $2593B | +0.00% |
| Dec | $2502B | $2502B | $2502B | $2502B | +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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