ROCKET SHIP!

Yesterday's action in the 10 year and 30 year yield space was something! Yields climbed 20 basis points and look at that 10 year chart. Yields continue to soar and notice btw that we are only attempting to get back to where we were back at the beginning of the year where 10 year yields were up around 4%. CPI this morning and i wonder off yesterday's move whether they've already priced in a bad number. Also we're getting in a seasonal time where bonds tend to firm up for year end portfolio squaring and other money needs that come this time of year.

MLPS lost a point and change on the index yesterday and we still are just moving along those moving average support lines. We're going to break one way or the other soon but until then its just more of the same back and forth.

Markets are a little soft this morning and we have crude oil numbers coming out later this morning. Crude and nat gas are down this morning. Stock futures are down a touch. The dollar is up against the major currencies and yields are lower ahead of cpi.

No news in MLP land. Crestwood Midstream (CMLP) gets cut to neutral from buy at UBS. Not much else is going on this morning in the space.

Strange morning as my blog was gone. Suspicous activity. Could not log into my amazon account so had to make new passwords. Can't imagine why anyone would mess around here but with all the denial of service attacks being launched these days..who knows. Anyway its back to normal.