The Treasury International Capital (TIC) data showed a modest net inflow of $2.1 billion in July 2025, as strong long-term portfolio demand was offset by large banking outflows.

• Foreign residents purchased $78.8 billion in long-term U.S. securities, including $72.4 billion from private investors and $6.4 billion from official institutions, reflecting continued portfolio appetite.

• After adjustments (such as stock swaps), overall net foreign purchases of long-term securities were estimated at $49.2 billion.

• U.S. residents bought $29.6 billion in long-term foreign securities, pointing to increased outbound portfolio flows.

• Foreign residents reduced their holdings of U.S. Treasury bills by -$2.0 billion, though total short-term U.S. securities and custody liabilities rose +$13.8 billion.

• Banks’ net dollar-denominated liabilities to foreign residents fell sharply by -$60.9 billion, largely offsetting the inflows from securities purchases.

• Net private inflows totaled +$22.6 billion, while net official outflows reached -$20.5 billion, underscoring the divergent behavior between private investors and official institutions.