Based on the Treasury International Capital (TIC) data for November 2025, here is a summary of the key financial flows and trends.
The November 2025 data shows a significant overall inflow of foreign capital into the United States, driven primarily by strong purchases of long-term securities.
🚀 Substantial Net Inflow: The total net inflow of foreign capital into U.S. assets was $212.0 billion for the month.
🏛️ Sector Breakdown: This total was composed of $167.2 billion from private foreign investors and $44.9 billion from foreign official institutions (like central banks).
📈 Strong Demand for Long-Term Securities: Foreign investors increased their holdings of long-term U.S. securities (like Treasury bonds and stocks) by a net $221.8 billion.
Private investors accounted for $157.8 billion of these purchases.
Official institutions purchased $64.0 billion.
🇺🇸 Outbound U.S. Investment: In contrast, U.S. residents made only small net purchases of long-term foreign securities, totaling $1.6 billion.
📉 Short-Term & Banking Flows: Holdings of short-term U.S. securities by foreign residents decreased by $6.5 billion, and banks' net dollar liabilities to foreigners fell by $1.7 billion.
⚠️ Important Context on Data Limitations
The report includes a crucial note about how the data is collected and its limitations:
The figures are primarily based on custodial data, which may not always reflect the true ultimate owner of a security (e.g., if held through a financial center in a third country).
Therefore, it can be difficult to draw precise conclusions about changes in holdings for individual countries from this data alone.
The TIC data also does not capture direct investment flows or all types of U.S. assets held abroad.
