The market for options on credit derivatives indexes has surged more than 40 percent in the past month to $98.8 billion as investors search farther afield for cheap hedges protecting against a sell-off in the bond markets.
U.S., Canada, and Mexico would promise to avoid devaluing their currencies for competitive purposes.
Bond market move could point to pending economic slump.
Move shows China's confidence in the currency's recent gains, analysts say.
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