Liquidity was balanced on Thursday. Overnight repo rates fell around 2 bps at 3.0348 percent, and 7-day repo rates dropped around 10 bps at 3.7353 percent. Yields of cash T-bonds edged down in brisk trading. 1-year T-bonds yields remained unchanged at 3.65 percent; 5-year T-bonds slipped 2.5 bps to yield 3.89 percent; 10-year T-bonds inched down 1 bp to yield 3.98 percent. Yields of financial bonds diverged in heavy trading. 1-year bonds issued by China Development Bank surged 15 bps to yield 4.47 percent; 5-year bonds issued by the Bank sagged 1 bp to yield 4.78 percent; and 10-year bonds lost 2.5 bps to yield 4.925 percent.

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