Bulls gone wild: Money flows hit a new record

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Traders may have been skittish ahead of this week's Federal Reserve meeting, but they still bet heavily on risk.

So much, in fact, that the period marked the biggest week ever for money flows to stock-based funds.

Equity funds took in a staggering $26 billion globally, and most of the buying took place before Wednesday's key Fed Open Markets Committee decision, according to data from Bank of America Merrill Lynch and Thomson Reuters.

Most of the global take and virtually all of the $16.9 billion to U.S. equities came via exchange-traded funds. The $1.6 trillion ETF industry is primarily the playground of traders looking to make a quick move on anticipated market trends.