02 Nov COTW: International Investors Crowd into U.S. Stocks
Last month, the U.S. Treasury Department released its Treasury International Capital (TIC) data for August which showed continue d flows from international investors into U.S. equities bringing the 12 month total to $205 billion.
Many variables can influence investment flows across global equity markets, including relative yields and valuations, exchange rates, and recent performance. Historically, based on this series, a case can be made that international investors have a tendency to chase performance in U.S. equities. The last time cumulative inflows reached these levels was in 2007 and 2000.
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