Liquidity turned tight balanced on Monday. Overnight repo rates fell around 2 bps at 2.4851 percent, and 7-day repo rates rose around 3 bps at 2.6206 percent. Yields of cash T-bonds were range-bound in steadied trading. 1-year T-bonds yields added 3 bps at 2.86 percent; 5-year T-bonds dropped 2 bps to yield 3.465 percent; 10-year T-bonds inched down 0.5 bps to yield 3.655 percent. Yields of financial bonds turned lower in stable trading. 1-year bonds issued by China Development Bank slipped 1.5 bps to yield 3.08 percent; 5-year bonds issued by the Bank were down 0.75 bps to yield 4.03 percent; and 10-year bonds lost 0.75 bps to yield 4.225 percent.

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