Liquidity eased on Thursday. Overnight repo rates fell around 14 bps at 2.2741 percent, and 7-day repo rates surged around 25 bps at 4.5906 percent. Yields of cash T-bonds edged down in brisk trading. 1-year T-bonds yields fell 5.5 bps at 3.21 percent; 5-year T-bonds retreated 2.5 bps to yield 3.3850 percent; 10-year T-bonds slipped 2.5 bps to yield 3.53 percent. Yields of financial bonds turned lower in heavy trading. 1-year bonds issued by China Development Bank dropped 6 bps to yield 3.86 percent; 5-year bonds issued by the Bank slid 3 bps to yield 4.155 percent; and 10-year bonds lost 1.25 bps to yield 4.2975 percent.

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