US DATA: 3Q current acct gap $110.3b vs upward rev $124.7b in 2Q, the
smallest gap since $100.6b in 4Q 2009. Complimenting the narrower trade
gap already released, the income surplus widened to $58.3b from $56.9b
in 2Q, while the unilateral transfers gap narrowed to $33.0b from
$35.5b. Net financial flows ex. derivatives were $183.9b in 3Q vs $35.4b
(which incl derivatives) in 2Q and was the highest level of financial
flows since 4Q 2008. There were large net purchases of US Treasuries by
private foreign buyers after net sales in 2Q. There were smaller net
purchases of Treasury securities by foreign official buyers than in 2Q.
The 3Q current acct gap was 2.9% of GDP, down from 3.3% in 2Q and the
smallest since 4Q 2009.