Business and Finance

International demand for U.S. financial assets cooled in December as optimism Europe would resolve its debt crisis reduced the appeal of Treasuries as a safe haven.

Net buying of long-term equities, notes and bonds totaled $17.9 billion during the month, compared with net purchases of $61.3 billion the previous month, the Treasury Department said today in Washington. Including short-term securities such as stock swaps, foreigners bought a net $87.1 billion in December, compared with net buying of $42.9 billion the previous month.