Revolving Consumer Credit in 2015
Revolving Consumer Credit opened 2015 at $881B and closed at $898B, a +1.94% move for the year. The high of $922B was reached on October 1, and the low of $881B on January 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $881B | $881B | $881B | $881B | +0.00% |
| Feb | $885B | $885B | $885B | $885B | +0.00% |
| Mar | $891B | $891B | $891B | $891B | +0.00% |
| Apr | $899B | $899B | $899B | $899B | +0.00% |
| May | $900B | $900B | $900B | $900B | +0.00% |
| Jun | $905B | $905B | $905B | $905B | +0.00% |
| Jul | $911B | $911B | $911B | $911B | +0.00% |
| Aug | $915B | $915B | $915B | $915B | +0.00% |
| Sep | $921B | $921B | $921B | $921B | +0.00% |
| Oct | $922B | $922B | $922B | $922B | +0.00% |
| Nov | $918B | $918B | $918B | $918B | +0.00% |
| Dec | $898B | $898B | $898B | $898B | +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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