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Private sector bolsters U.S. net inflows in June
NEW YORK - Net overall U.S. capital inflows rose in June, led by a surge in private investments, the Treasury Department said on Friday.
Net capital inflows totaled $51.1 billion in June, from a revised inflow of $12.3 billion in May. The Treasury Department last month had originally reported net outflows for May at $2.5 billion.
Net long-term capital inflows, meanwhile, fell to $53.4 billion, down from a revised $83.2 billion the previous month. The original figure was reported at $67.0 billion.
Private inflows climbed to $38.0 billion from a revised outflow of $1.4 billion.
June's total inflows, however, were not sufficient to cover the month's trade deficit of $56.8 billion.
Still, the dollar showed little reaction to the data, while Treasuries were steady at higher levels after the report.
"I think demand for U.S. assets are holding relatively well. And even though inflows were not enough to cover the trade deficit, overall, people are looking at the health of the U.S. economy," said Omer Esiner, a market analyst at Ruesch International in Washington.
"Relative to the rest of the world, the U.S. economic outlook looks decent. That should help underpin demand for U.S. assets," he added.
Net purchases of U.S. Treasuries rose to $28.33 billion, up sharply from $5.67 billion in May.
Japan, the largest holder of U.S. Treasury securities, slightly raised its holdings of government bonds in June. It held $583.8 billion from $578.7 billion in May.
China, the second-largest holder, trimmed its total to $503.8 billion from $506.8 billion in May.
Buying of agency bonds showed none of the stress it has been experiencing recently, with foreign investors snapping up $31.46 billion in June, from $28.16 billion the previous month.
Corporate bond buying took a dip, however, with foreign purchases of $4.69 billion, from a robust $59.84 billion in May.
Foreign investors also shied away from U.S. equities, which showed an outflow of $1.82 billion in June, from purchases of $15.98 billion the previous month.
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