Foreign Investors Poured $133.5 Billion Into US Assets in June, Treasury Data Shows, With Equity Buying Outpacing Bonds

The US Treasury Department's monthly capital-flows report showed foreign investors continued adding to US assets in June 2026. The Treasury International Capital (TIC) data, released 17 August, showed a net TIC inflow — the broadest measure of cross-border portfolio flows into and out of the US — of $133.5 billion for June. Of that, $85.0 billion came from private foreign investors and institutions, and $48.4 billion from foreign official institutions such as central banks and sovereign wealth funds.

Foreign residents' net purchases of long-term US securities — stocks, corporate bonds, Treasury bonds and notes, and agency bonds — totalled $207.1 billion in June, with private investors accounting for $169.8 billion and official institutions $37.3 billion. After adjustments for stock swaps and other estimated flows, Treasury put the overall net foreign purchase figure for long-term securities at $172.7 billion for the month.

Not every category rose. Foreign holders reduced their stock of US Treasury bills — short-term government debt — by $29.0 billion in June, and banks reported a $34.4 billion decline in their own dollar-denominated liabilities to foreign residents. Treasury's next TIC release, covering July data, is scheduled for 16 September 2026.

What the TIC Data Measures

The Treasury International Capital system tracks monthly cross-border flows of securities between US and foreign residents — a window into how much of the world's savings is flowing into, or out of, US financial assets. It is one of the most closely watched indicators of foreign appetite for US Treasuries and other securities. TIC data works alongside, but is separate from, the Commerce Department's trade balance figures, since it tracks financial-account flows rather than goods and services.

Equities Led Foreign Private Buying

Within the $169.8 billion in net long-term securities purchases by private foreign investors in June, equities were the standout category, with $144.7 billion in net purchases — far outpacing net purchases of Treasury bonds and notes ($16.6 billion) and corporate bonds ($23.9 billion), alongside net sales of $15.5 billion in government agency bonds. Foreign official institutions, by contrast, added a net $37.3 billion to their long-term US securities holdings, split across $36.7 billion in equities and $11.7 billion in corporate bonds, alongside net sales of $9.8 billion in Treasury bonds and notes and $1.3 billion in agency bonds.

Separately, US residents added a net $34.4 billion to their holdings of long-term foreign securities during June, a smaller outflow than the $172.7 billion in adjusted foreign inflows into US long-term securities.

Short-Term Holdings Moved the Other Way

Not all the June data pointed toward stronger foreign demand for US assets. Foreign holdings of US Treasury bills fell by $29.0 billion during the month, and total foreign holdings of dollar-denominated short-term US securities and custody liabilities dropped $4.9 billion. Banks operating in the US also reported a $34.4 billion decline in their own net dollar-denominated liabilities to foreign residents — a metric reflecting cross-border bank funding flows rather than securities purchases.

Why This Data Matters Right Now

TIC data is watched closely because it offers one of the few direct measures of whether foreign investors — governments and private institutions alike — remain willing to finance US federal borrowing and hold US financial assets. June's TIC data shows headline foreign demand for US securities, and particularly US equities, remained strong, even as short-term Treasury bill holdings and bank dollar liabilities to foreigners both declined over the same month. Treasury's release does not attribute these shifts to specific causes, and TIC data is subject to revision in subsequent monthly reports.

Reader Q&A

What's the difference between "net TIC inflow" and "net foreign purchases of long-term securities"?

Net TIC inflow ($133.5 billion in June) is the broadest measure, combining long-term securities flows, short-term securities flows, and banking flows. Net foreign purchases of long-term securities ($207.1 billion before adjustments, $172.7 billion after) is a narrower subset covering just stocks and bonds with maturities over one year. The two figures differ because short-term Treasury bill holdings and bank liabilities moved in the opposite direction during June, partly offsetting the long-term securities inflow in the broader total.

Does this data include direct investment, like a foreign company buying a US factory?

No. Treasury's release explicitly notes that TIC data excludes direct investment flows, which are tracked separately by the Commerce Department's Bureau of Economic Analysis. TIC covers portfolio flows — securities like stocks and bonds — not foreign ownership of US businesses or real assets.

Who counts as a "foreign official" buyer in this data?

Foreign official institutions include foreign central banks, government investment authorities, and sovereign wealth funds, as distinct from private foreign investors such as pension funds, mutual funds, or individuals. In June, official institutions accounted for $48.4 billion of the $133.5 billion total net TIC inflow.

Why did foreign holdings of Treasury bills fall even as foreign demand for other US securities rose?

Treasury's release reports the $29.0 billion decline in foreign T-bill holdings alongside the increase in longer-term securities purchases but does not explain the divergence. Possible drivers could include foreign investors rotating from short-term to longer-term instruments or normal month-to-month volatility in T-bill holdings; the primary source does not attribute a specific cause.