Tuesday is shaping up to be a risk-off session, with futures trading in the red in premarket trading, while the dollar and Treasuries are the only major asset classes in the green. Long-term Treasuries, as tracked by the iShares 20+ Year Treasury Bond ETF (NYSE:TLT), are up 0.7% in the premarket, on track to reach levels last seen on Sept. 20. Investors are flocking to bonds and cash following Moody’s decision to lower China’s credit outlook from stable to negative, while retaining a long-term rating of A1 for the nation’s sovereign bonds. The rating agency also stated that China’s use of fisc…

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