Deutsche Bank: U.S. assets still face resistance from overseas buyers

Deutsche Bank said foreign investors are still refusing to buy U.S. assets despite a recovery in the market over the past week. To see what foreign investors have been doing in recent weeks in "real time," George Saravelos, head of foreign exchange strategy at Deutsche Bank, looked at flows of various funds that take in foreign money into U.S. stocks and bonds. Saravelos wrote that the data showed that foreign purchases of U.S. assets had "come to a screeching halt" over the past two months, and there were no signs of a reversal even last week when the dark clouds over the market seemed to begin to lift.