Foreign Purchases Of Securities Surge to Record
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
International investment in American securities swelled to a record $116.8 billion in August, more than double economists’ forecasts, led by increased purchases of Treasuries.
The increase compares with July’s $32.9 billion, which was the lowest since May 2005, the Treasury Department said today.The figure exceeds the $56.5 billion median estimate of 14 analysts surveyed by Bloomberg News. Demand for American assets jumped in August as the Fed ended two years of interestrate increases. The surge helps explain the resilience of the dollar even as the trade deficit widens to a record.
