The volume of credit default swaps on Australian sovereign debt has more than doubled in the past year as China, its biggest export market, has engaged in efforts to slow inflation. Depository Trust & Clearing Corp. data indicated that as of March 25, there were 1,284 CDS covering AUD2.7 billion (USD2.8 billion), compared with 551 swaps and AUD1.2 billion a year earlier.

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