Macquarie Private Wealth says global investors are feeling confident about the world's growth prospects this year, and are happier to make riskier investments as a result.
The wealth management firm says the developed markets are entering a phase of synchronised growth that is bolstering confidence.
Head of research Riccardo Briganti says New Zealand's economy is firing on all cylinders but the high dollar and the possibility of external shocks could pose a risk to growth.
He says over the last six months of 2013 all of the developed regions have started to grow, which generates a level of confidence that the momentum can continue.
Mr Briganti says another key them globally is that risk tolerance has increased because risk perceptions have improved.
He says for example there are still problems in European countries because of debt and there are still issues in the United States around debt ceilings.
But Mr Briganti says investors have become more comfortable that they are not problems that derail economic momentum, nor do they lead to wholesale issues globally; instead they are things that can be resolved.