Liquidity tightened on Monday. Overnight repo rates rallied around 7 bps compared with the previous trading session to close at 2.3412 percent, and 7-day repo rates rose around 2 bps to yield 2.6296 percent. Yields of cash T-bonds edged higher in brisk trading. 1-year T-bonds yields inched up 1 bp at 2.17 percent; 5-year T-bonds added 2.5 bps to yield 2.585 percent; 10-year T-bonds climbed 4 bps to yield 2.87 percent. Yields of financial bonds turned higher in heavy trading. 1-year bonds issued by China Development Bank were flat to yield 2.40 percent; 5-year bonds issued by the Bank was up 4 bps to yield 3.04 percent; and 10-year bonds gained 0.5 bps to yield 3.165 percent.

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