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U.S. assets lost their luster in June

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Global demand for U.S. stocks, bonds and other financial assets weakened in June from a month earlier as the White House and Congress wrangled over raising the debt limit, according to the U.S. Treasury Department, Bloomberg reported. Net buying of long-term equities, notes and bonds totaled $3.7 billion during the month, compared with net buying of $24.2 billion in May, according to the Treasury Department statistics. Including short-term securities such as stock swaps, foreigners sold a net $29.5 billion,  compared with net selling of $48.8 billion the previous month. The Treasury’s reporting on long-term securities is a gauge of confidence in U.S. economic policy, and today’s report may reflect concern about the government’s ballooning debt, Bloomberg said.