You are here
Foreign investors prefer U.S. stocks to Treasuries as debt worries grow
By Emily Herbert and Ian Smith
Financial Times, London
Tuesday, September 15, 2026
Foreign investors are now buying more US stocks than government bonds, in a rare move that comes amid fears that inflation and America's fast-growing debt pile are undermining the "risk-free” status of Treasuries.
International flows into US stocks reached 2.8% of US GDP on average in the year to June, overtaking Treasuries -- at 2% of GDP -- for the first time this century outside brief episodes in the Covid-19 pandemic and the aftermath of the global financial crisis, according to analysis of US Treasury data by Deutsche Bank.
... Dispatch continues below ...
... ADVERTISEMENT ...
Buy metals at GoldMoney and enjoy international storage
GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars.
To learn more, please visit:
http://www.goldmoney.com/?gmrefcode=gata
The change reflects the ever-growing lure of the US stock market, with the S&P 500 on track for a fourth straight year of double-digit gains. Powering the rally has been vast AI investment, which is driving profit margins to new highs, according to FactSet data stretching back to 2009.
At the same time, Treasuries' traditional role as the global risk-free asset is coming under increasing pressure as investors grow warier of lending money to heavily indebted governments and question the independence of the Federal Reserve, in a move that could transform the way the US dollar trades. On Tuesday the 10-year Treasury yield reached its highest level since 2007.
This is a "huge shift in US asset markets," said George Saravelos, global head of FX research at Deutsche Bank, reflecting that "the American private balance sheet is booming ... but the public-sector balance sheet keeps worsening." ...
... For the remainder of the report:
https://www.ft.com/content/e565ce70-17ac-42ad-bc08-b9a69d75d5b1?syn-25a6b1a6=1
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2026
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
