Published by Global Banking & Finance Review®
Posted on January 21, 2026
2 min readLast updated: January 21, 2026
Deutsche Bank CEO distances the bank from an analyst's report suggesting European investors may sell U.S. assets due to tariff threats.
Jan 21 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Wednesday that Deutsche Bank's chief executive had called him to say the bank does not stand by one of its analyst reports suggesting European investors may dump U.S. assets.
"This notion that Europeans would be selling U.S. assets came from a single analyst at Deutsche Bank," Bessent told reporters on the sidelines of the World Economic Forum annual meeting in Davos, adding that it had been amplified by "the fake news media".
"The CEO of Deutsche Bank called to say that Deutsche Bank does not stand by that analyst report," he said.
Wall Street banks have faced pressure from Trump, who, last year, hit out at Goldman Sachs and its CEO David Solomon, saying the bank had been wrong to predict U.S. tariffs would hurt the economy, questioned whether Solomon should lead the Wall Street institution and criticized its research.
George Saravelos, Deutsche's global head of FX research, in a Sunday note raised the possibility of European investors selling U.S. assets in response to President Donald Trump's threats to impose tariffs on several European countries over Greenland.
"We generally do not comment on potential communication between the bank and government representatives," a Deutsche bank spokesperson said.
They added: "Deutsche Bank Research is independent in their work, therefore views expressed in individual research notes do not necessarily represent the view of the bank's management."
Saravelos did not respond immediately to a request for comment.
His Sunday note said European countries own $8 trillion of U.S. bonds and equities.
"In an environment where the geoeconomic stability of the western alliance is being disrupted existentially, it is not clear why Europeans would be as willing to play this part," Saravelos wrote.
(Reporting by Ariane Luthi in Davos and Tom Sims in Frankfurt, writing by Alun John, editing by Dhara Ranasinghe and Elisa Martinuzzi)
Forex, or foreign exchange, is the global marketplace for trading national currencies against one another, where currency values fluctuate based on economic factors.
U.S. assets refer to financial instruments or properties owned within the United States, including stocks, bonds, real estate, and other investments.
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