The TIC data showed a net capital outflow of $37.3 billion in October 2025, reflecting weaker overall foreign inflows despite continued long-term security purchases.

• Total net foreign acquisitions of long- and short-term U.S. securities plus banking flows totaled -$37.3 billion in October, with private outflows of -$18.1 billion and official outflows of -$19.2 billion, indicating broad-based net outflows across investor types.
• Foreign residents purchased $38.9 billion of long-term U.S. securities, showing continued interest in longer-duration assets despite the headline outflow.
• Private foreign investors accounted for $49.0 billion of long-term purchases, while foreign official institutions were net sellers of -$10.1 billion, highlighting a divergence between private and official flows.
• U.S. residents bought $21.4 billion of long-term foreign securities, contributing to net capital outflows via outbound portfolio investment.
• After adjustments, including estimated stock swap activity, net foreign purchases of long-term securities were $17.5 billion (vs $122.7 billion expected), substantially smaller than gross long-term inflows.
• Foreign holdings of U.S. Treasury bills increased by $21.8 billion, while holdings of all dollar-denominated short-term securities rose $21.5 billion, pointing to selective demand at the short end.
• Banks’ net dollar-denominated liabilities to foreign residents fell -$76.3 billion, a major offset that drove the overall net TIC outflow for the month.