Jan. 18 (Bloomberg) -- Global demand for U.S. financial assets rose more than forecast in November, boosted by investors seeking shelter from the European debt crisis.

Net buying of long-term equities, notes and bonds totaled $59.8 billion during the month compared with net purchases of $8.3 billion in October, the Treasury Department said today in Washington. Including short-term securities, foreigners bought a net $48.6 billion compared with net selling of $39.6 billion the previous month.

“Demand for U.S. treasuries continued strong amid stress in Europe,” Guy Lebas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia, said before the data were published. “It’s a desire for European banks and other investors to reduce the risk of their portfolios.”

The U.S. Treasury data released today capture international purchases of government notes and bonds, stocks, corporate debt and other securities.

Economists had forecast net buying of $40 billion of long- term assets, the median of five estimates in a Bloomberg News survey before today’s report. Their estimates ranged from a net buying of $20 billion in long-term assets to $75 billion.

--With assistance from Roger Runningen in Washington. Editors: Kevin Costelloe, Christopher Wellisz

To contact the reporters on this story: Meera Louis in Washington at mlouis1@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net