Foreign investment in U.S. at new high
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From Times Wire Services
Foreigners unexpectedly increased their purchases of U.S. financial assets to a record level in May.
Total foreign holdings of stocks, notes and bonds climbed to $126.1 billion, from $80.3 billion the previous month, the Treasury said Tuesday in Washington. Economists on average had predicted such investment would slow to a net $73 billion.
The purchases offset China’s sale of Treasury securities from its foreign-exchange reserves as part of a move toward diversification.
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