Liquidity balanced on Friday. Overnight repo rates fell around 11 bps at 2.7856 percent, and 7-day repo rates plunged around 21 bps at 3.2785 percent. Yields of cash T-bonds were mixed in steadied trading. 1-year T-bonds yields remained unchanged at 3.60 percent; 5-year T-bonds were flat to yield 3.86 percent; 10-year T-bonds were also flat to yield 3.915 percent. Yields of financial bonds turned higher in heavy trading. 1-year bonds issued by China Development Bank remained unchanged to yield 4.25 percent; 5-year bonds issued by the Bank firmed 2 bps to yield 4.64 percent; and 10-year bonds gained 1.5 bps to yield 4.705 percent.

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