Money surged into stocks over the past week, with investors eager to get back into trades supported by President Donald Trump's economic agenda.
Equity-based funds raked in $24.6 billion during the period ended Thursday, according to Bank of America Merrill Lynch. That was the highest total since Trump's election victory in November when money flowed into the market on hopes that his pro-growth policies would give the market another lift.
Though stocks have been on a solid run for most of the year, some of the so-called Trump trade sectors had been cooling off. Banks in particular surged nearly 30 percent after the election but have traded slightly lower since early March, when investors began to fear that pro-growth policies such as tax reform, regulation rollbacks and infrastructure spending would stall in Congress.
However, those fears seem to be abating, and it's showing up in money flows.
Financials took in $1.4 billion for the week, according to BofAML. Bank stocks collectively are up about 5.4 percent since June 6.
Inflows slowed to the most recent hot trade, technology, with the sector bringing in just $100 million.
Investors, however, continue to hedge their bets on a strong equity market, with bonds again attracting heavy attention. Fixed income funds pulled in another $9 billion, the 13th straight week of inflows in a year that has seen the group draw $192.7 billion.