Liquidity turned eased on Thursday. Overnight repo rates surged around 17 bps at 2.5437 percent, and 7-day repo rates fell around 8 bps at 2.5429 percent. Yields of cash T-bonds edged up in steadied trading. 1-year T-bonds yields remained unchanged at 2.80 percent; 5-year T-bonds inched up 1 bp to yield 3.33 percent; 10-year T-bonds added 3.5 bps to yield 3.615 percent. Yields of financial bonds closed higher in stable trading. 1-year bonds issued by China Development Bank were flat to yield 3.04 percent; 5-year bonds issued by the Bank were up 4.5 bps to yield 3.91 percent; and 10-year bonds gained 2.75 bps to yield 4.2375 percent.

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