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ICBC Global Market: RMB Interest Rate Market Update - October 12, 2017

Liquidity balanced on Wednesday. Overnight repo rates fell around 10 bps at 2.8112 percent, and 7-day repo rates plunged around 53 bps at 3.3103 percent. Yields of cash T-bonds diverged in brisk trading. 1-year T-bonds yields remained unchanged at 3.49 percent; 5-year T-bonds inched up 0.5 bps to yield 3.64 percent; 10-year T-bonds were flat to yield 3.65 percent. Yields of financial bonds were little changed in heavy trading. 1-year bonds issued by China Development Bank were flat to yield 3.98 percent; 5-year bonds issued by the Bank remained unchanged to yield 4.28 percent; and 10-year bonds were flat to yield 4.225 percent.

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