Recent headlines about de‑dollarization obscure a striking fact: global investors are pouring record sums into American securities. In June, foreigners bought $192 billion of U.S. stocks, Treasuries and corporate debt, following a record $326 billion net purchase in May reuters.com. Adjusting for Americans’ purchases of foreign assets, net long‑term inflows were a robust $151 billion for June and $410 billion for the second quarter, matching 2022’s records reuters.com. Over the first half of 2025, total inflows reached $643 billion, on track to surpass $1 trillion for the year reuters.com. In the 12 months through June, a net $1.27 trillion flowed into U.S. securities, underscoring the enduring allure of American markets reuters.com.
Analysts attribute the demand to the perception that U.S. assets still offer the strongest growth and returns globally. Robin Brooks of the Brookings Institution notes that the flows data “don’t support a de‑dollarization story”—despite a 10 % drop in the dollar this year reuters.com. Strong inflows have kept Treasury yields relatively contained even as deficits balloon. For investors chasing safety and returns, the U.S. remains the world’s capital magnet. The only question is how long it lasts as politics, tariffs and monetary policy uncertainty swirl.
