The Kobeissi Letter
@KobeissiLetter
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BREAKING: Foreign investors bought a net +$426 billion of US equities and investment fund shares in Q2 2026, the largest quarterly purchase on record.
This marks the 9th consecutive quarterly net purchase, totaling +$1.6 trillion.
By comparison, the previous record of +$299 billion was set in Q2 2022.
Furthermore, foreign investor purchases of US equities and investment fund shares rose to +$942 billion in the 12 months ending in July, their largest rolling 12-month total in Treasury data going back to 1985.
Meanwhile, foreign investors bought a net +$188 billion in US debt securities in Q2 2026, down from +$314 billion in Q1 2026.
Foreign investors are piling into US equities.
