MLPS are languishing today down .50 on the index as the market consolidates. The employment number was terrible and bonds initially rallied but after dropping to 4.20 on the 30 year, the yield is about to break through 4.30. Most mlps are moving fractionally in either direction. The list is pretty much split in half between winners and losers. EV Partners (EVEP) Natural Resource (NRP) Exterran Partners (EXLP) and Pennsylvania Virginia Resource (PVR) are leading the list of winners. Teekay (TOO) is down over a point as they are selling stock in an offering. Magellan (MMP) Alliance Resource (ARLP)Buckeye (BPL) and Holly Partners (HEP) lead the losers list.
Have a feeling we may just go sideways for the rest of the afternoon. Nat gas looks like it wants to go out near the highs of the week and i think there is more upside there. Yields may try to go out on their highs of the day.
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About Me
- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
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1 comment:
Joe, won't a rise in long term yields indicate a rise in inflation which in turn means commodity prices are going up, and higher commodity prices usually higher MLP stock prices. So, do MLP investors really need to worry that much about rising rates on government debt?
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