The U.S. Department of the Treasury has published the Treasury International Capital (TIC) data for May 2025. The subsequent release, covering June 2025, is expected on August 15, 2025.
In May, there was a net TIC inflow totaling $311.1 billion from all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows. This includes net foreign private inflows of $333.2 billion and net foreign official outflows amounting to $22.1 billion.
Foreign residents increased their holdings of long-term U.S. securities by $318.5 billion in May, with private foreign investors accounting for $287.5 billion and foreign official institutions for $31.1 billion in net purchases.
U.S. residents also boosted their holdings of long-term foreign securities with net purchases reaching $59.1 billion.
Adjustments such as estimated foreign portfolio acquisitions of U.S. stocks through stock swaps were considered, leading to an overall estimate of net foreign sales of long-term securities at $259.4 billion in May.
Foreign residents raised their holdings of U.S. Treasury bills by $0.5 billion while holdings of all dollar-denominated short-term U.S. securities and other custody liabilities increased by $10.3 billion.
Banks’ own net dollar-denominated liabilities to foreign residents saw an increase of $41.4 billion.
The complete dataset is accessible on the Treasury’s website.
