we did not think about asset purchases before the great recession, but as you can see week,anet yellenis planning needs to be done, and negative interest rates could be a tool that could be used as things turned bad. scarlet: what is your call? >> we look for japan and the the range ofet in -75 basis points. we recognize the u.s. is in a different position, with a plus .5 range right now. the fedot looking for to lower rates, but that would be the first step before we thought about negative rates coming here. alix: very interesting. , a greatgreat report deep dive into the potential for negative rates. scarlet:? coming up, the days of the 500 euros note could be numbered .igh what mario draghi could have planned. ♪ ♪ scarlet: i am scarlet fu. couldropean central they decide to scrap their biggest bank note. we are talking about the 500 euros note, as a way to discourage next from hoarding cash. if they decide to cut interest rates and go deeper into negative territory, banks may decide it is not worth positing their reserves with the federal bank. they may hold it in cash, in notes. if

tells investors of course we can pay your riskiest debt. ,anet yellen in the spotlight the five mostngress to ask the fed this week. mohamed el-erian tells us. energy sector,e chesapeake stock falls the most in 23 years. we see if that tells us anything about the rest of the industry. ♪ stephanie: there's a lot to cover. you are watching "bloomberg go." inis tuesday morning, we are new york city, and stephanie ruhle. david: i'm david westin. there's a lot to cover. el-erian, andd aberdeen asset manager at ceo martin gilbert. welcome back. it's good to have you here. stephanie: when you talk about global markets. yesterday alone we saw $900