Investors poured into riskier assets last week, pumping $27 billion into equity funds, Bank of America said today, as optimistic progress on a new coronavirus vaccine prompted aggressive buying of stocks in the hardest-hit sectors, including banking, travel and leisure, and oil. At the same time, risk-taking prompted investors to pull $4 billion out of gold.
According to Reuters today, citing Bank of America, the vaccine has sparked optimism, prompting investors to buy stocks and sell gold. Inflows into global equities surged to a record high of $71.4 billion over the past two weeks, Bank of America said, citing data from EPFR. The inflows into U.S. and emerging market equities stand out.
At the same time, the report said, risk-taking prompted investors to pull $4 billion out of gold, the largest outflow in history.
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