(Bloomberg) -- A whopping $20 billion flowed into US equity funds on Wednesday, the day Donald Trump claimed a decisive victory in the presidential election, according to Bank of America Corp. strategists.

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That was the biggest daily addition in five months, strategist Michael Hartnett said in a note citing EPFR Global. Small-cap stocks — which are seen benefiting from Trump’s protectionist stance — attracted the biggest inflow since March, at $3.8 billion.

US stocks rallied to a record high this week following the election result and another interest-rate cut by the Federal Reserve. The S&P 500 Index is on track for its biggest weekly advance in a year.

While Trump’s proposals for lower corporate tax rates are expected to boost earnings, investors also worry that potential tariffs and immigration policies from his administration will again stoke inflation. The 10-year bond yield initially surged after Trump’s victory, although it has since given up most of those gains.

“Inflationary boom = sell bonds,” BofA’s Hartnett said.

A “big sweep” for Trump could result in “big policies” including about $8 trillion in tax cuts, $3 trillion in tariff revenues and $1 trillion in spending cuts, he said. Republicans have won control of the Senate, while the House continued to teeter on uncounted votes in about 30 congressional races Thursday.

US stock funds overall added $32.8 billion in the week through Nov. 6, according to the note. European equity funds suffered a sixth straight week of outflows at $900 million. Worries about the impact of potential tariffs are weighing on European stocks.

--With assistance from Michael Msika.

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