Liquidity tightened earlier on Thursday, but eased a little bit in the afternoon session. Overnight repo rates tumbled around 17 bps compared with the previous trading session to close at 2.4263 percent, and 7-day repo rates slumped around 23 bps to yield 3.2577 percent. Yields of cash T-bonds edged up in brisk trading. 1-year T-bonds yields shot up 12 bps at 2.40 percent; 5-year T-bonds rose 4 bps to yield 2.77 percent; 10-year T-bonds rallied 6 bps to yield 2.99 percent. Yields of financial bonds turned higher in heavy trading. 1-year bonds issued by China Development Bank surged 25 bps to yield 2.80 percent; 5-year bonds issued by the Bank jumped 13 bps to yield 3.34 percent; and 10-year bonds gained 6.5 bps to yield 3.3425 percent.

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