The ‘Sell America’ Trade Is a Myth
Investors bought substantial amounts of US assets in 2025 and are likely to remain buyers in 2026 -- a sharp contrast to the “sell America” narrative.
Wednesday’s release of Treasury International Capital (TIC) data, the final report for 2025, showed continued foreign demand for US assets, with net inflows totaling $63bn in December.
US assets recorded net inflows in every month of 2025 except April, and the overall pace was materially stronger than in 2024.(Bloomberg)