BBG: Foreigners rebuff ‘Sell America’, buying a net $1.6 trillion in US assets in 2025

Bloomberg: Overseas investors bought a net US$1.55 trillion of long-term US financial assets in 2025, data released by the Treasury Department on Feb 18 showed. That compares with net purchases of US$1.18 trillion in 2024.

Of the total, US$658.5 billion went into equities and US$442.7 billion to Treasury notes and bonds.

The US dollar’s depreciation in 2025 might have even encouraged some overseas managers to load up on US securities.

The Treasury cautions that identifying the ultimate origin of ownership can be challenging. Many of the largest net purchases came from locations known for tax advantages, such as the Cayman Islands and Guernsey, and for their custodial roles in global finance, including Britain and Belgium.

China was a notable net seller of US long-term financial assets, offloading US$208.6 billion. Its Treasury holdings ended the year at US$683.5 billion, the lowest level since 2008.