Foreign Investors Set Record With $646.8 Billion in US Stock Purchases Amid Shifting Global Capital Flows
A robust and weird wave of world capital is dashing into US markets. Foreign traders are shopping for American equities at a report tempo, Treasury demand is reshuffling at a structural degree, and home inflows are accelerating into year-end.
At the identical time, US client debt has hit its highest degree in historical past. For crypto and fairness traders, the dimensions and path of those flows sign a significant shift in threat urge for food and international macro positioning.
Foreign Investors Drive Record Equity Buying Amid Historic Realignment in Treasury Ownership
Private traders outdoors the US bought $646.8 billion in US equities in the 12 months ending September 2025, in line with information cited by Yardeni Research.
This marks the very best degree on report, surpassing the 2021 peak by 66%, with flows doubling since January.
The shopping for will not be restricted to US equities. Foreign private-investor purchases of US Treasuries totalled $492.7 billion in the identical interval. Rolling 12-month non-US shopping for of Treasuries has remained above $400 billion for 4 consecutive years, reflecting persistent international demand for dollar-denominated security.
“Everyone desires US belongings,” analysts on the Kobeissi Letter remarked.
The composition of international Treasury holders is shifting in methods not seen in many years:
- China’s share of international Treasury holdings has fallen to 7.6%, the bottom in 23 years, and down 20% over 14 years.
- The UK’s share has quadrupled to 9.4%, close to its highest degree on report.
- Japan, nonetheless the biggest international holder, now accounts for 12.9%, down 26 factors over the past 21 years.
These shifts recommend a long-term repositioning of sovereign and personal capital, a pattern with direct implications for interest rates, liquidity, and market volatility.
Domestic Investors Also Going Risk-On, But Record Consumer Debt Adds Complexity
US traders have poured a rare $900 billion into fairness funds since November 2024, in line with JPMorgan information, with half of that complete, $450 billion, arriving in simply the final 5 months.
Fixed-income funds added one other $400 billion, whereas all different asset lessons mixed attracted solely $100 billion.
Inflows into US equities have exceeded these into all different asset lessons mixed, reinforcing the energy of the bid for US risk assets.
While institutional and international traders are ramping up their publicity, US households are underneath rising monetary stress. Total US credit-card debt climbed to $1.233 trillion in Q3 2025, the very best degree ever recorded.
This divergence between market optimism and client pressure raises questions on sustainability, earnings resilience, and the timing of potential coverage shifts.
Seasonality and Bullish Projections Lift Sentiment
JP Morgan expects the S&P 500 to succeed in 8,000 subsequent 12 months, a view strengthened by highly effective seasonal tailwinds. This projection comes as markets anticipate the financial institution’s “everything rally” forecast shared simply over per week in the past.
December has traditionally been the strongest month for US shares, with the S&P 500 rising 73% of the time since 1928 and delivering a median return of +1.28%.
For each crypto and fairness markets, the surge in capital flows towards the US indicators rising confidence in American belongings, or a scarcity of enticing alternate options overseas.
Investors will watch to see whether or not these inflows speed up in 2026, how Treasury demand shifts as international holdings rebalance, and whether or not report client debt turns into a drag on macroeconomic momentum.
With liquidity constructing and seasonality strengthening, each conventional markets and digital belongings are coming into a doubtlessly decisive section.
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