THURSDAY 11/16/17; US 2-10 Yield Spread Narrows to 63 Bips; Yield Curve Flattens; BBY; VIAB; WMT; NTAP; RH; Philly Fed Business Outlook Survey; Fed Speak; Import and Export Prices; Industrial Production; House Approves Tax-Cut Plan; US Stocks Rally; COMPQ (Nasdaq Composite) and NDX (Nasdaq 100) Print All-Time Highs; GPS; WSM; ROST; AMAT

Treasury yields are; 2-year 1.69%, 5-year 2.04%, 10-year 2.33%, 30-year 2.77%. The 2-10 spread is 64.3 bips narrowing more than the low from last week. The US yield curve is flattening. Interestingly, Wall Street strategists continue touting banks as the greatest thing since sliced bread but a flatter curve squeezes profits. As the yield curve flattens and potentially inverts, the United States approaches recession.

[Purchase the 2017-11 chronology to read and study the market drama in November.]

FBI Special Counsel Mueller investigating Russia involvement in the November 2016 election has subpoenaed the Trump campaign last month for more documents and emails.