15 charts that defined 2015 in financial markets

Before you start, ‘yes’ there are probably more charts that define 2015 in financial markets. But, at least I tried!

1. Swiss Bond Madness

‘Swissification was born after an admirable, but otherwise hopeless, attempt by the SNB to ‘protect’ the Swiss franc from strengthening too much after it dropped the cap against the euro.

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2. Greek Tragedy – Banks

With hindsight, this was just the beginning.

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3. Ukraine – Casualty of War

Many things look grim in the former Soviet State. At one point the Ukrainian central bank had to let the currency go.

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4. Euro – Casualty of ECB

Draghi already told us in 2014, QE was coming. And it hit the euro hard.

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5. Bond Blues

Not scarcity, but positioning made this happen. Bond investors got the scare of a lifetime.

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6. China – Speculative Overload

New stock market accounts, at one point the only measure able to explain the stellar rise of Chinese stock prices.

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7. Greek Tragedy – Probability of Default

Staring into the abyss!

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8. Greek Tragedy – ‘EUREKA!’

Salvation at last! Well that’s what most believe for now.

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9. What comes up, …

You know the saying. Not just fundamentals, but also regulation kicked in. China is centrally led economy, please don’t forget.

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10. Volatility takes over

Greece, China, bond yields, oil, … too much.

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11. The resurrection of Bitcoin

Bitcoin is not dead, and also not (just) for crooks!

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12. Draghi Disappoints

It took a while, but it had to come at some point. Draghi finally underwhelmed investors.

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13. Emerging Currency Collapse

Obscure oil-related currencies like the Azerbaijan Manat and Kazakhstan Tenghe were hit hardest, but the pain was felt everywhere!

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14. Oil Slide

And not just oil, pretty much all commodities got hammered in 2015. And the effects are spreading…

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15. Lift-off

It took nearly a decade but in the end the Fed dared to lift interest rates. Central bank divergence is here!

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Happy 2016!

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