Liquidity tightened on Tuesday. Overnight repo rates jumped around 16 bps at 3.0624 percent, and 7-day repo rates surged around 17 bps at 3.6244 percent. Yields of cash T-bonds diverged in steadied trading. 1-year T-bonds yields inched down 1 bp at 3.47 percent; 5-year T-bonds were up 1.5 bps to yield 3.61 percent; 10-year T-bonds added 1.5 bps to yield 3.61 percent. Yields of financial bonds turned higher in stable trading. 1-year bonds issued by China Development Bank firmed 4 bps to yield 3.94 percent; 5-year bonds issued by the Bank climbed 1.5 bps to yield 4.25 percent; and 10-year bonds gained 1.75 bps to yield 4.21 percent.

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