Liquidity eased on Thursday. Overnight repo rates slumped around 18 bps at 2.5252 percent, and 7-day repo rates tumbled around 27 bps at 2.9119 percent. Yields of cash T-bonds edged down in brisk trading. 1-year T-bonds yields remained unchanged at 3.50 percent; 5-year T-bonds were flat to yield 3.83 percent; 10-year T-bonds inched down 1 bp to yield 3.90 percent. Yields of financial bonds turned lower in steadied trading. 1-year bonds issued by China Development Bank fell 3 bps to yield 4.30 percent; 5-year bonds issued by the Bank dropped 3 bps to yield 4.93 percent; and 10-year bonds lost 1.75 bps to yield 5.05 percent.

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