LONDON (Reuters) - Investors are in "full bull" mode, deploying more money into emerging markets, small-cap stocks and the banking sector on hopes a COVID-19 vaccine will turn around these hard-hit market segments, BofA's monthly investor survey showed on Tuesday.
Global stocks hit a new record high on Monday as positive data for a potential COVID-19 vaccine came from Moderna (NASDAQ:MRNA), following similarly upbeat data from rival Pfizer (NYSE:PFE). Investors surveyed by BofA expect a "credible vaccine" by January.
The euphoria sent investors' cash levels down to 4.1% in November, from 4.4% last month, to pre-COVID-19 levels last seen in January, according to the survey of 190 fund managers with $526 billion in assets under management.
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