Liquidity tightened on Thursday. Overnight repo rates jumped around 15 bps compared with the previous trading session to close at 2.4404 percent, and 7-day repo rates fell around 4 bps at 3.1258 percent. Yields of cash T-bonds edged down in brisk trading. 1-year T-bonds yields inched down 1 bp at 2.80 percent; 5-year T-bonds dropped 3 bps to yield 3.05 percent; 10-year T-bonds shed 5 bps to yield 3.35 percent. Yields of financial bonds turned lower in heavy trading. 1-year bonds issued by China Development Bank retreated 1 bps to yield 3.37 percent; 5-year bonds issued by the Bank slipped 7 bps to yield 3.99 percent; and 10-year bonds lost 4 bps to yield 4.118 percent.

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