Liquidity eased on Monday. Overnight repo rates fell around 2 bps at 2.6134 percent, and 7-day repo rates plunged around 12 bps at 2.9893 percent. Yields of cash T-bonds diverged in steadied trading. 1-year T-bonds yields remained unchanged at 3.65 percent; 5-year T-bonds slid 1.5 bps to yield 3.805 percent; 10-year T-bonds were up 0.5 bps to yield 3.89 percent. Yields of financial bonds turned lower in stabilized trading. 1-year bonds issued by China Development Bank were flat to yield 4.52 percent; 5-year bonds issued by the Bank were also flat to yield 4.72 percent; and 10-year bonds lost 1 bp to yield 4.795 percent.

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