Liquidity balanced on Wednesday. Overnight repo rates surged around 20 bps at 2.7370 percent, and 7-day repo rates rallied around 14 bps at 3.1229 percent. Yields of cash T-bonds edged down in brisk trading. 1-year T-bonds yields remained unchanged at 3.45 percent; 5-year T-bonds fell 6 bps to yield 3.59 percent; 10-year T-bonds inched down 1 bp to yield 3.64 percent. Yields of financial bonds were mixed in heavy trading. 1-year bonds issued by China Development Bank added 0.3 bps to yield 4.103 percent; 5-year bonds issued by the Bank slipped 2 bps to yield 4.35 percent; and 10-year bonds lost 0.5 bps to yield 4.343 percent.

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