Liquidity eased on Saturday. Overnight repo rates tumbled around 18 bps compared with the previous trading session to close at 2.4397 percent, and 7-day repo rates plunged around 189 bps at 2.6938 percent. Yields of cash T-bonds were little changed in thinned trading. 1-year T-bonds yields remained unchanged at 2.85 percent; 5-year T-bonds were flat to yield 3.08 percent; 10-year T-bonds were also flat to yield 3.28 percent. Yields of financial bonds barely moved in lackluster trading. 1-year bonds issued by China Development Bank were flat to yield 3.55 percent; 5-year bonds issued by the Bank were also flat to yield 3.97 percent; and 10-year bonds lost 1 bp to yield 4.06 percent.

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