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Risk Appetite Weakens As Fitch Places US On Negative Rating Watch


Risk appetite has faltered on headlines that Fitch has placed the US 'AAA' rating on rating watch negative. The agency stated the AAA rating may be cut.

  • US equity futures have trimmed gains, Eminis dipped to 4130, but now sit back at 4142/43, still +0.40% firmer, Nasdaq futures are off highs as well, back to +1.35%.
  • 10 Year US Treasury futures spiked higher on the news before paring gains in volatile trade and now sit at 113-08+, -0-05, marginally above late NY levels. Cash tsys re-open in just over one hour.
  • For the USD, the main shift was seen in the terms of the yen, with USD/JPY sliding sub 139.00 (low of 138.83), but is now back to 139.25/30, still sitting off session highs.

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