LONDON (Reuters) – Investors stormed into riskier assets last week, pumping $27 billion into equity funds as positive COVID-19 vaccine updates led to euphoric buying of shares in worst-hit sectors such as banks, travel and leisure and oil, BofA said on Friday.
Citing data from EPFR, the bank said inflows into global stocks in the last two weeks soared to $71.4 billion, the biggest ever. The flows were led by U.S. and emerging market stocks.
The risk-on move prompted investors to pull $4 billion from gold, the biggest outflows ever.
(Reporting by Thyagaraju Adinarayan; Editing by Dhara Ranasinghe)
