European equity funds have seen a total of $6.1 billion worth of inflows in the past week, marking the highest on record, according to data tracking firm EPFR.

This is the first time that flows into European equity funds have crossed the $6 billion mark since EPFR started tracking the data in 2000. Of the total $8.8 billion invested in global equities, EPFR data shows a total of $6.1 billion poured into European stock markets, $2.4 billion into U.S. equity markets and the remaining in other markets.

Analysts have attributed this investor optimism to Emmanuel Macron’s win in the French presidential election. In a research note from Bank of America Merrill Lynch, analysts argue that flows into European equities have rebounded but have plenty of room to recover.

“US listed European equity ETFs have seen flows recover c45 percent of the outflows in 2016. Similarly, overall inflows to European equity funds are now $15bn, which is still modest versus $103bn outflows in 2016 – but this week did see the biggest inflow on record ($6bn). The pace of inflows doesn’t yet flash red for contrarians either: flows as a % of AUM are at most half the way to levels that coincided with market peaks in prior years,” BAML said in a note.