Liquidity eased on Wednesday. Overnight repo rates fell around 2 bps at 2.6178 percent, and 7-day repo rates dropped around 6 bps at 3.0726 percent. Yields of cash T-bonds diverged in steadied trading. 1-year T-bonds yields remained unchanged at 3.55 percent; 5-year T-bonds were flat to yield 3.85 percent; 10-year T-bonds inched up 0.5 bps to yield 3.9475 percent. Yields of financial bonds turned lower in stabilized trading. 1-year bonds issued by China Development Bank retreated 3 bps to yield 4.35 percent; 5-year bonds issued by the Bank were flat to yield 5.00 percent; and 10-year bonds lost 0.25 bps to yield 5.075 percent.

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