本篇为高盛经济研究团队基于美国财政部国际资本(TIC)初步数据撰写的点评报告。7月美国长期国债的净买入主要由官方投资者推动，而美国股票则连续第二个月录得强劲净买入，此前今年上半年的多数时间净买入相对低迷。基于估值调整后的估计，7月外国投资者净买入美国长期证券；结构上，外资买入长期美国国债、机构证券和股票，同时卖出公司债。其中，私人投资者驱动了股票与机构证券的净买入以及公司债的净卖出，官方投资者则主导了长期美国国债的净买入。分地区看，英国是7月长期美国国债的最大净买家，法国为最大净卖家，加拿大和日本紧随其后；区域层面，欧洲与拉丁美洲为净买家，亚洲为净卖家。报告并附有按投资者类型和地区划分的持仓变动图表。
July saw net purchases of US Treasuries driven by official investors and was the second consecutive month of strong net purchases of US equities after relatively subdued net purchases for much of the first half of the year. In July, based on the valuation-adjusted estimates of preliminary data from the US Treasury, foreign investors net purchased long-term US securities. In greater detail, foreign investors purchased long-term US Treasuries, agency securities, and equities while they sold corporate bonds. Private investors drove net purchases of equities and agency securities and net selling of corporate bonds. Official investors drove net purchases of long-term US Treasuries. The United Kingdom was the largest net buyer of long-term Treasuries in July. France was the largest net seller in July followed by Canada and Japan. At the regional level, Europe and Latin America were net buyers while Asia was a net seller.