Liquidity was balanced on Thursday. Overnight repo rates fell around 2 bps at 2.9530 percent, and 7-day repo rates tumbled around 17 bps at 3.6714 percent. Yields of cash T-bonds edged up in brisk trading. 1-year T-bonds yields remained unchanged at 3.48 percent; 5-year T-bonds were up 2 bps to yield 3.64 percent; 10-year T-bonds firmed 1.5 bps to yield 3.6350 percent. Yields of financial bonds turned higher in heavy trading. 1-year bonds issued by China Development Bank were flat to yield 3.92 percent; 5-year bonds issued by the Bank rose 2 bps to yield 4.28 percent; and 10-year bonds gained 1.75 bps to yield 4.2325 percent.

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