Yellen appears before the clowns Congress on Wednesday & Thursday.

The headline above is mine, analysis below by Citi:

  • Citi say Yellen will dump on calls for negative rates
  • She'll admit it is a possibility in an extreme case, but the Fed isn't even close to that
  • Her testimony will stress the positives in the US economy & its recovery
  • But it will recognize global risks, market turmoil have the potential for spillover into the US

Net, Citi expect Yellen's comments to add support for the USD and calm some of the panic buying of US bonds

And, sorry to keep you waiting ...