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Week Thoughts: MLPs in Moderation

15Oct
Oil prices, natural gas prices, S&P 500, utilities, and U.S. Treasury notes all traded up this week.  MLPs did not.  Distribution surprises (cuts and moderations) were not well received.  The MLP market was firming ahead of earnings but clearly remains skittish when it comes to distributions, which clearly still matter quite a bit to a large portion

Week Thoughts: MLPs Float Higher, Without Aid of Oil

08Oct
MLPs rallied exactly 1.3% for a second straight week.  MLPs are now up in 5 out of the last 7 weeks and have gained 6.5% in those 7 weeks.  The unusual thing about this week’s rally, however, is that it happened despite a substantial drop in oil prices.  MLPs underperformed oil prices in the march from the mid-$40s to the low-$50s, so it’s nice to

Week Thoughts: Anti-CliMax Weight

01Oct
MLPs bounced back this week on stabilized oil and gas prices, benign broader stock market and limited equity issuance.  Interest rates continue to creep higher and may be contributing to MLPs recently lagging oil’s rally.  Most of the gains came Monday as WTI closed above $52/bbl and MLPs rallied more than 2% for their best day since June 23rd.  The