Reuters reports that BofA said that 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.

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.