Mr. Bernanke will deliver the Fed's semi-annual testimo ny on the status of the economy late Thursday afternoon. He will be speaking to the Senate Banking Committee and market participants will watch his words very closely. The Fed Chairman is required to deliver this testimony twice a year, which is considered to be of extreme importance to the financial markets. We almost always see the markets move as a result of what he says during this testimony, but this time is being done after market hours. If he indicates that inflation is still a concern, the bond market will likely fall mortgage rates will rise early Friday as a result. But, if he says that inflation remains under control, we should see the markets rally and mortgage rates fall Friday.