Foreign Investors Set Record With $646.8 Billion in US Stock Purchases Amid Shifting Global Capital Flows

Foreign private investors outside the US bought a record $646.8 billion in US equities in the 12 months ending September 2025, doubling flows since January and surpassing the 2021 peak by 66%. This inflow coincided with $492.7 billion in foreign purchases of US Treasuries, reflecting persistent global demand for dollar-denominated assets. Concurrently, the composition of Treasury ownership is shifting significantly: China's share has dropped to a 23-year low of 7.6%, while the UK's share has quadrupled. Domestically, US investors poured $900 billion into equity funds since November 2024, supporting a bullish outlook, including a JPMorgan projection for the S&P 500 to hit 8,000 next year. However, this market optimism contrasts sharply with US households reaching a record high in credit-card debt at $1.233 trillion in Q3 2025, raising questions about the sustainability of these capital flows.

(Source：BeInCrypto)