Net foreign acquisitions across long-term securities, short-term instruments and banking flows generated an $83.7 billion TIC inflow in July 2026. Foreign residents bought $38.8 billion of Treasury bills after selling $29 billion in June, but the maturity split showed limited private demand for longer-term debt. Private foreign investors bought $45 billion of bills while selling $29.1 billion of Treasury notes and bonds. Official institutions sold $6.3 billion of bills and bought $25.5 billion of notes and bonds, leaving combined notes-and-bonds flows slightly negative. After U.S. purchases of foreign securities and other adjustments, net foreign acquisition of all long-term securities was negative $27.9 billion. The 10-year Treasury yield rose from 4.48% to 4.75% during July, while the 30-year yield increased from 4.97% to 5.27%. The data suggest foreign demand favored short-duration government paper while longer-term borrowing costs remained elevated, a combination relevant to Bitcoin because higher risk-free yields and tighter financial conditions can reduce demand for non-yielding risk assets. The July flows do not establish that Treasury demand caused Bitcoin’s later performance.