(Reuters) - Global equity funds took in $44.5 billion in the week to Wednesday, the biggest ever on record, following the U.S. election outcome and Pfizer’s encouraging news on its coronavirus vaccine, BofA Research said on Friday. Citing data from EPFR, the bank said U.S. equity funds had enjoyed $32.5 billion in inflows, their second-biggest ever while emerging market equities took in $6.5 billion for their fifth highest inflow. The risk-on move prompted investors to pull $17.8 billion out of cash while U.S. Treasury funds saw $4 billion in redemptions, the biggest in six months. World stocks hit record highs on Monday after Pfizer’s announcement. BofA said its proprietary Bull-Bear indicator, a proxy for risk sentiment, had risen to 4.2 from 3.8 the previous week) though it remained “far from dangerous euphoria”. But it highlighted that 91% of MSCI country-level indexes were now above the 50-day and 200-day moving averages -- key technical levels -- which it said was an “early warning signal equity that topping process has begun”.