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Gunjan Banerji reports that foreign holdings of U.S. stocks have steadily risen since the beginning of widespread discussion about the 'sell America' trade last year.
Despite narratives suggesting international investors would reduce exposure to U.S. equities, their ownership has continued to climb.
Banerji previously reported that S&P 500 bottom-up operating EPS rose 13 percent since the start of Q1 reporting in April. She also noted that convertible bond issuance by U.S.-listed companies reached $54 billion so far this year. The recent uptick in foreign holdings comes alongside these corporate earnings and capital-raising milestones.