Archive

Week Thoughts: All Eyes on Dallas

23Nov
The Alerian MLP Index traded up for the second consecutive week, gaining 0.3%, but the Alerian MLP Equal Weight index was slightly negative.  The Cushing 30 and Alerian MLP Infrastructure indices, both more concentrated and midstream-focused than the AMZ, were both up more than the more inclusive indices.  But, as has been the trend for the last few

MLP Week Thoughts: Unimpressive Rebound

17Nov
MLPs were up this week overall (Alerian MLP Index up 1.1%), but their streak of under-performing the S&P 500 (up 1.6% to fresh highs) extended to 6 weeks.  Interest rates were slightly lower week over week, presumably on the hope that Janet Yellen's appointment could mean continued low interest rates and generally accommodating policy.   Barring a

Week Thoughts: MLP Fatigue Season

10Nov
MLP prices were down for the second straight week, which is not unusual for distribution ex-date season, particularly when that season is accompanied by a seemingly constant barrage of new MLP paper (mostly IPOs).  There is probably also some rotation out of MLPs and into other stocks, as evidenced by 5 straight positive weeks for the S&P 500, which

MLP Week Thoughts: Fall Back

03Nov
Like clockwork, MLP prices fell on the week when more than 50 MLPs passed through their ex-distribution dates.  The price index was down 1.5%, and while I don't know what the total return index did last week (because I don't have a Bloomberg terminal or Factset access at the moment), it was probably flattish.  Oil and natural gas prices were down