MLP Week Thoughts: Seesawing into September

MLPs had a rough week, down 1.6%, which was slightly better than the S&P 500 (down 1.8%).  The situation in Syria seems to be having a positive impact on oil prices and a negative impact on the U.S. stock market.  U.S. military action would probably continue those two trends.  Next week's August jobs report will be the next thing people talk about

Week Thoughts: No News, Good News for MLPs

MLPs bounced back this week with the Alerian MLP Index a gaining 1.5%, including gains on each of the last 4 trading days.  MLPs on average were well ahead of the S&P 500, which gained 0.5% (with most of it coming on Friday).  The US 10 Yr interest rate was up throughout the week, and down sharply on Friday, leaving them roughly flat for the week, and

Week Thoughts: Summer Closeout – Stocks, Treasuries and MLPs Marked Down

MLPs dropped 2.1% this week, roughly the same as the S&P 500 (-2.0%).  MLPs were unable to withstand the broader market breakdown for two consecutive weeks, and the multiple MLP equity offerings we saw this week.  So after outperforming last week when the S&P 500 was down 1.0%, MLPs succumbed this week.  While MLPs were down for the week, the

Week Thoughts: Market Takes a Break, MLPs Hold Up

MLPs were flat (counting distributions) in a down market week, which is pretty impressive for the second straight week of $1.0bn+ of MLP equity issued (including two IPOs) while in the tail end of ex-date season.  Oil prices slipped 0.8% and natural gas dropped 3.6% this week, dragging ethane down as well.  Propane closed the week above $1.00/gallon,

Week Thoughts: Dog Days of Distribution Season Hit MLPs

MLPs were down for the third straight week, and this time the S&P 500 was up enough to overtake the MLP Index for YTD total return, which would have seemed nearly impossible a few months ago.  This sets up the possibility that the MLP Index will underperform the S&P 500 for consecutive years, which has not happened since the Alerian data started