Net foreign purchases of U.S. long-term securities dropped sharply in December, as the United States’ TIC Net Long-Term Transactions indicator fell to $28.0 billion from November’s revised $206.6 billion. The December 2025 reading, released on 18 February 2026, signals a significant cooling in foreign appetite for U.S. long-term assets at the end of the year.
The Treasury International Capital (TIC) data track cross-border flows into and out of U.S. long-term securities, including Treasury bonds and corporate debt. While December still showed a net inflow, the steep decline from November suggests that international investors became markedly more cautious, potentially reflecting year-end portfolio rebalancing or shifting expectations about U.S. interest rates and global growth.
Market participants will be watching upcoming TIC releases closely to determine whether December’s pullback was a one-off adjustment or the start of a more sustained moderation in foreign demand for U.S. long-term securities, a key pillar in financing the U.S. government and corporate sectors.
