Liquidity eased on Thursday. Overnight repo rates fell around 4 bps at 2.8599 percent, and 7-day repo rates dipped around 6 bps at 3.1861 percent. Yields of cash T-bonds diverged in steadied trading. 1-year T-bonds yields remained unchanged at 3.36 percent; 5-year T-bonds dropped 2.5 bps to yield 3.61 percent; 10-year T-bonds slipped 3 bps to yield 3.63 percent. Yields of financial bonds were mixed in heavy trading. 1-year bonds issued by China Development Bank were flat to yield 3.69 percent; 5-year bonds issued by the Bank sagged 3 bps to yield 4.18 percent; and 10-year bonds lost 3 bps to yield 4.2825 percent.

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