TIC REPORT

Treasury International Capital (TIC) Data for June Treasury International Capital (TIC) data for June 2008 are released today and posted on the U.S. Treasury web site (www.treas.gov/tic). The next release, which will report on data for July, is scheduled for September 16, 2008. Net foreign purchases of long-term securities were $53.4 billion. Net foreign purchases of long-term U.S. securities were $62.7 billion. Of this, net purchases by private foreign investors were $47.8 billion, and net purchases by foreign official institutions were $14.9 billion. U.S. residents purchased a net $9.2 billion of long-term foreign securities. Net foreign acquisition of long-term securities, taking into account adjustments, is estimated to have been $36.6 billion. Foreign holdings of dollar-denominated short-term U.S. securities, including Treasury bills, and other custody liabilities decreased $2.2 billion. Foreign holdings of Treasury bills increased $6.9 billion. Banks' own net dollar-denominated liabilities to foreign residents increased $16.7 billion. Monthly net TIC flows were positive $51.1 billion. Of this, net foreign private flows were $38.0 billion, and net foreign official flows were $13.1 billion. (GT sez: Monthly requirements are more than $60 BILLION...so we come up short at $51.1B)