Liquidity tightened on Friday. Overnight repo rates rallied around 10 bps at 2.9006 percent, and 7-day repo rates fell around 15 bps at 3.5910 percent. Yields of cash T-bonds edged up in brisk trading. 1-year T-bonds yields rose around 4 bps at 3.54 percent; 5-year T-bonds advanced 8.75 bps to yield 3.84 percent; 10-year T-bonds added 6.25 bps to yield 3.835 percent. Yields of financial bonds turned higher in heavy trading. 1-year bonds issued by China Development Bank inched up 1 bp to yield 3.99 percent; 5-year bonds issued by the Bank were up 6.5 bps to yield 4.48 percent; and 10-year bonds gained 6.75 bps to yield 4.425 percent.

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