Good Morning,
Energy complex a little softer this morning after yesterday's big rally. MLPS did well yesterday in spite of the 10 year breaking above 4.50 yield. Distributions are growing almost across the board in the group and in some cases...like INERGY LP raising it by 20%! And thats year over year.

Some pre-market bids on Sunoco Logistics (SXL) above yesterday's close. Sometimes thats indicative of an upgrade of some sort...but no news has appeared yet.

10 year yields open sharply higher at 4.57%...looks like yields are headed for 4.75%...MLPS may have priced that all in during the correction....I still think as long as yields stay below 4.90% that the group can rally but perhaps the top will be contained.

This just in....the brains at RBC Capital Markets...who 2 days ago reinterated an underperform on SXL have now upgraded the stock to sector perform. I guess they saw something in yesterday's earnings and/or the double distribution increase.