There is a bevy of Fed speakers on deck today, all with a simple agenda of refuting last week's historic move in Eurodollars which pushed forward fed fund rates negative as soon as November, to wit:

BULLARD: NEGATIVE RATES NOT GOOD OPTION FOR U.S.

KAPLAN: 'I WOULD BE AGAINST NEGATIVE INTEREST RATES'

KASHKARI: FED POLICYMAKERS HAVE BEEN 'PRETTY UNANIMOUS' IN OPPOSING NEGATIVE INTEREST RATES

Chicago Fed president Charles Evens put the issue to rest saying "at best, we'd have to study it more, but I don't anticipate that being a tool we would be using in the US" confirming the Fed isn't anticipating the use of negative rates (of course, the Fed wasn't anticipating $7 trillion in QE just two months ago; in fact one can argue that anything the Fed agrees on - publicly - will be wrong).

And yet, just as one Fed president after another recoiled at the thought of NIRP , Trump just threw the Fed for a loop when he tweeted that "as long as other countries are receiving the benefits of Negative Rates, the USA should also accept the "GIFT". Big numbers!"