Great analysis here on recent US balance of payment dynamics.
libertystreeteconomics.newyorkfed.org/2026/05/hone...
libertystreeteconomics.newyorkfed.org
Honey, Who Shrunk the U.S. Income Surplus? - Liberty Street Economics
The net investment income surplus faded due to post-pandemic interest rate hikes and continued net sales of U.S. assets to foreign investors.