Greenspan will tell the Senate this morning the same old, same old. He will tell them they need greater discipline in their budgetary process, and that the twin deficits are a serious problem. I hope they listen, but I doubt it.

I also hope they ask him to tell us, in specific language we can all understand, why bond yields are falling when his Fed is tightening. Who is buying these bonds when the Beige Book and the PPI/CPI data would strongly indicate that such investments would be highly dubious at this time unless the economy is going to stop growing and start receding?

The question investors want to know is if Greenspan believes that the yield curve is going to go negative anytime soon.

If so, then why are equity investors going to send the market on a rocket this morning?

I think the Fed chairman has an opinion to what he has referred to as a "conundrum". I'd like to hear it.

It would be the most important piece of information I or you could receive today.