Liquidity eased on Monday. Overnight repo rates inched down around 1 bp at 2.6148 percent, and 7-day repo rates rose around 3 bps at 3.0577 percent. Yields of cash T-bonds edged down slightly in steadied trading. 1-year T-bonds yields remained unchanged at 3.28 percent; 5-year T-bonds were flat to yield 3.68 percent; 10-year T-bonds dropped 1 bp to yield 3.81 percent. Yields of financial bonds turned lower in stabilized trading. 1-year bonds issued by China Development Bank were flat to yield 4.14 percent; 5-year bonds issued by the Bank fell 0.25 bps to yield 4.79 percent; and 10-year bonds lost 0.75 bps to yield 4.905 percent.

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