US DATA: 2Q current acct gap $118.0b vs $119.6b in 1Q. A larger income
surplus was roughly offset by a wider goods and services gap and a small
widening of the unilateral transfers gap. Net financial flows ex.
derivatives were $25.7b in 2Q vs $156.1b (which incl derivatives) in 1Q.
There were large net sales of US Treasuries by private foreign buyers,
but net purchase of Treasury securities by foreign official
buyers. The 2Q current acct gap was 3.1% of GDP, down from 3.2% in 1Q.