adbrite ads

Your Ad Here
Your Ad Here




Wednesday, January 05, 2011


This morning's very strong ADP report has sent rates higher this morning up 9 basis points and it appears we are starting the next up leg here in the march to higher rates and lower bond prices. So far this morning MLPS haven't reallyu noticed and neither has the rest of the market. The dow is flat and so are mlps. No big moves in individual issues this morning as the moves have been contained in a tight small fractional range. Alliance Resource Holdings (AHGP), Oneok (OKS) and Penn Virginia Resource (PVR) are the three showing losses of greater than 50 cents. But none of this is news driven.

Of note, Plains All American, Buckeye Partners and Enterprise Products Partners all sold senior notes in the last couple of days...perhaps the feeling is that rates have bottomed and better to get a good rate now before we have to pay more down the road.

No comments: