Liquidity eased on Friday. Overnight repo rates fell around 4 bps at 2.4931 percent, and 7-day repo rates declined around 2 bps at 2.7952 percent. Yields of cash T-bonds edged down in brisk trading. 1-year T-bonds yields remained unchanged at 2.90 percent; 5-year T-bonds inched down 0.75 bps to yield 3.37 percent; 10-year T-bonds dipped 1.5 bps to yield 3.685 percent. Yields of financial bonds slipped turned lower in heavy trading. 1-year bonds issued by China Development Bank were flat to yield 3.72 percent; 5-year bonds issued by the Bank dropped 1.75 bps to yield 4.365 percent; and 10-year bonds lost 2 bps to yield 4.5025 percent.

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