Liquidity balanced on Wednesday. Overnight repo rates inched down around 1 bp at 2.9610 percent, and 7-day repo rates surged around 14 bps at 3.7149 percent. Yields of cash T-bonds edged down in brisk trading. 1-year T-bonds yields remained unchanged at 3.60 percent; 5-year T-bonds fell 3.5 bps to yield 3.885 percent; 10-year T-bonds slipped 3 bps to yield 3.95 percent. Yields of financial bonds diverged in heavy trading. 1-year bonds issued by China Development Bank dropped 2 bps to yield 4.25 percent; 5-year bonds issued by the Bank sagged 1.5 bps to yield 4.65 percent; and 10-year bonds gained 1.5 bps to yield 4.73 percent.

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