The New Zealand bonds closed narrowly mixed Friday in the absence of major economic data or events and with subdued trading on the last day of the week.
The yield on the benchmark 10-year bond rose 1 basis point to 2.230 percent and the yield on 7-year note remained steady at 1.93 percent mark and the yield on short-term 2-year note slid 1 basis point to 1.785 percent.
The Kiwi bonds have been closely following developments in oil markets because of their impact on inflation expectations, which are well below the Reserve Bank of New Zealand's target.
The crude oil prices climbed for a seventh straight day, with Brent crude rising above $50 for the first time in six weeks as the world's biggest producers prepared to discuss a possible freeze in production levels. The International benchmark Brent futures rose 0.02 percent to $50.90 and West Texas Intermediate (WTI) jumped 0.27 percent to $48.35 by 04:50 GMT.
In terms of recent economic data, New Zealand July net migration fell to 5600, compared to 5670 in June.
“While down from highs, net migrant inflows remain strong, and we don’t see that changing meaningfully any time soon. These large net inflows will remain a key pillar of support for demand conditions in the economy, although we are not entirely sure the mix is quite right to meet sectoral skill shortages across the economy,” said ANZ economists in a research note.
Lastly, investors will remain keen to focus on the upcoming economic data, highlighted by exports, imports and trade balance figure.
Meanwhile, the New Zealand’s benchmark S&P/NZX50 Index closed up 30.10 points to 7,385.12.


Best Gold Stocks to Buy Now: AABB, GOLD, GDX 



