Liquidity eased on Monday. Overnight repo rates rose around 6 bps at 2.6505 percent, and 7-day repo rates surged around 17 bps at 2.9637 percent. Yields of cash T-bonds edged down in brisk trading. 1-year T-bonds yields inched down 1 bp at 3.18 percent; 5-year T-bonds fell 7 bps to yield 3.37 percent; 10-year T-bonds slid 4 bps to yield 3.66 percent. Yields of financial bonds turned down in heavy trading. 1-year bonds issued by China Development Bank remained unchanged to yield 3.75 percent; 5-year bonds issued by the Bank dropped 4 bps to yield 4.38 percent; and 10-year bonds lost 2.25 bps to yield 4.5475 percent.

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