U.S. SECURITIES UP $23.7 BLN
The U.S. DEPARTMENT OF THE TREASUTY released Treasury International Capital (TIC) data for November 2016. The next release, which will report on data for December 2016, is scheduled for February 15, 2017.
The sum total in November of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $23.7 billion. Of this, net foreign private inflows were $25.2 billion, and net foreign official outflows were $1.5 billion.
Foreign residents increased their holdings of long-term U.S. securities in November; net purchases were $13.3 billion. Net purchases by private foreign investors were $12.2 billion, while net purchases by foreign official institutions were $1.1 billion.
U.S. residents decreased their holdings of long-term foreign securities, with net sales of $17.5 billion.
Taking into account transactions in both foreign and U.S. securities, net foreign purchases of long-term securities were $30.8 billion. After including adjustments, such as estimates of unrecorded principal payments to foreigners on U.S. asset-backed securities, overall net foreign purchases of long-term securities are estimated to have been $12.1 billion in November.
Foreign residents left their holdings of U.S. Treasury bills unchanged. Foreign resident holdings of all dollar-denominated short-term U.S. securities and other custody liabilities increased by $1.1 billion.
Banks' own net dollar-denominated liabilities to foreign residents increased by $10.6 billion.
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REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.
Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.
Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.