If we've learned anything this week in Nashville, it's to trust Ken Rosenthal when he speaks about the Diamondbacvks. And this morning, here's what he Tweeted:
#DBacks, with Greinke and Miller, more competitive than they were when they began pursuing Phillips. No indication that trade is close.
— Ken Rosenthal (@Ken_Rosenthal) December 10, 2015
So, at the current time, it would appear the Trade Threat Level should only be at yellow. There had been discussions between Cincinnati and Arizona regarding Phillips earlier, but nothing came of them at that point. If I'd to guess, the deal would involve Aaron Hill (who has only one year and $12 million left on his contract, which would be better for a rebuilding club like the Reds than Phillips's two years and $27 million), plus perhaps a young prospect of some kind from Arizona, since Phillips was certainly rather better than Hill last season.