U.S. TIC data showed foreigners bought $73.8 B in total U.S. assets
U.S. TIC data showed foreigners bought $73.8 B in total U.S. assets in August, after a purchase of $118.0 B in July (revised from $140.6 B). There were purchases of $48.3 B in net long-term assets versus $102.8 B in July (revised from $103.9 B). However, foreigners sold $24.8 B in Treasury coupons (-$44.2 from official accounts and +$20.3 B from private accounts), while buying $29.6 B in agencies, $22.8 B in corporates, and $2.7 B in stocks. China was the largest seller of Treasury coupons at -$33.7 B, with Japan dumping -$10.6 B, followed by "All Others" at -$5.6 B with the UK at -$5.1 B. Germany was the biggest buyer at $6.9 B, followed by France at $6.7 B, then Korea at $4.3 B. Longer dated Treasury yields closed August at slightly higher levels, but after very choppy action.