China's central bank on Sunday conducted 10 billion yuan of seven-day reverse repos with the interest rates remaining unchanged at 2.55 percent. None of reverse repos expired in the day, and a net of 10 billion reverse repos orders were injected in the open market. Liquidity eased with interest rates declining. Both issuance and auction fell in tier-1 market. Three ultra-short financing bonds were issued, including 2 billion yuan of AAA 150-day 18 HD SCP005, 600 million yuan of AA+ 270-day 18 SS SCP003, 500 million yuan of AA+ 270-day 18 HS SCP001. Trading was light in tier-2 credit bond market due to public holidays. Yields of short-term financing bonds were little changed. Yields of AAA one-year credit bonds were flat at 4.62 percent. 18 SGX SP005 that will expire in 125 days was traded at 4.55 percent. Yields of medium-term bill market were mixed in light trading. Yields of AAA three-year bonds remained unchanged at 4.91 percent. Yields of AAA five-year bonds were flat at 5.07 percent. 16 GM MTN001 that will expire in 1.07 years was traded at 4.55 percent. Yields of corporate bonds slid slightly in thinned trading.

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