Treasury TIC Data Show $142 Billion Net Foreign Inflows to U.S. Equities in First Half 2024 Despite Sell-America Rhetoric
U.S. capital markets continue to attract official and private foreign flows due to unmatched liquidity, legal infrastructure, and reserve-currency status. Short-term geopolitical coverage overlooks these persistent incentive structures documented in Treasury and BIS data. Inflows are likely to remain elevated unless core structural attributes change.
Next data points to watch are September TIC releases and the Q3 COFER update. A sustained drop below $60 billion quarterly inflows would signal erosion of the liquidity premium; continuation above $100 billion would confirm the current allocation regime persists through the election cycle.
Treasury Department: Quarterly foreign net purchases of U.S. equities will remain above $80 billion through Q4 2024 unless the dollar's COFER share falls below 55 percent.
Sources (3)
- [1]U.S. Treasury TIC Report June 2024(https://home.treasury.gov/data/treasury-international-capital-tic-data)
- [2]IMF COFER Q1 2024(https://data.imf.org/?sk=E6A5F467-C14B-4AA8-9F6D-5A09EC4E62A4)
- [3]BIS Quarterly Review September 2024(https://www.bis.org/publ/qtrpdf/r_qt2409.htm)