We'll begin this morning with breaking news which i could not get to last night. First off Valero LP announces it has completed its sale of some New Zealand assets. Northern Borders Partners is aquiring the remainder of a pipeline it already owned part of. Hiland LP (HLND) is buying energy assets that will be immediately accretive.

Its end of montha and end of quarter and a Friday so there may be some distortions today although i would think most of the window dressing has been taken care of. Futures are flat this morning. If its a typical Friday much of what will happen will take place between 9:30 and 10am and we'll just sleepwalk the rest of the day. Its a nice day in NYC with temps reaching 70 or better so the itch to be outdoors and away from the trading desks will be there. Nothing in the upgrade or downgrade department.

Blogging will be light this morning as i have a school function to deal with.