Deutsche Bank: US assets still face resistance from overseas buyers

Foreign investors are still holding back from buying US assets in spite of the market recovery over the past week, according to Deutsche Bank. George Saravelos, head of foreign exchange strategy at Deutsche Bank, studied the flows of funds that have sucked in overseas money into US equities and bonds in an effort to see how foreign investors have moved in "real time" in recent weeks. Mr. Saravelos wrote that the data showed a "sudden stop" in overseas purchases of US assets over the past two months and showed no sign of reversing even last week, when the dark clouds over markets appeared to be lifting.