I guess all TIC releases are frustrating, but I found today's release especially frustrating.  Total net monthly inflows -- $75b -- are just enough to cover the current account deficit (which is running a bit under $900b).  Though, consistent with recent trends, net long-term inflows ($58b) weren't quite large enough to cover the deficit.  Foreign demand for US long-term debt and equities was strong ($107.5b), but so was US demand for foreign assets ($39b in November).   Incidentally, net inflows are a bit different than the difference between foreign and US purchases because of an adjustment for principal repayments on agencies and mortgage backed securities

But that isn't the frustrating bit.  The frustrating bit is that the split between private/ official flows simply doesn't make sense, nor does the geographic breakdown.