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TINAC & TICS Update
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June's Treasury International Capital System (TICS) was released on Monday. The TICS data tend to confirm our TINAC thesis, i.e., there is no alternative country: the US is a safe haven for global investors confronted with a very stormy global investment climate. Consider the following:
(1) On a 12-month basis through June, the US had private net capital inflows of $1.5 trillion (chart below). It'
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Ed Yardeni
