US Equity futures have pared losses, e-minis were ~0.6% lower after Fitch downgraded the US from AAA to AA+. The downgrade echoes a similar move made by S&P in 2011. E-minis now sit at 4584.25/50, ~0.4% lower after the move lower didn't follow through.

• In the FX space the USD remains pressured, CHF and JPY continue to lead the bid both are ~0.3% firmer. USD/JPY sits at touch below the ¥143 handle marginally paring some of its recent gains. The EUR is ~0.2% firmer last printing at $1.1010/15.
• The Antipodeans are lagging, an uptick in New Zealand's Unemployment Rate and slowing wages growth has pressured the NZD with some spillover weighing on the AUD.
• Cash tsys remain closed, re-opening at the top of the hour. 10 Year Tsy Futures are off session highs but remain a touch above late NY levels, TYU3 deals at 111-06, +0-10.