LOWER AT MIDDAY AS BONDS SELL OFF!

The morning began with long rates getting back down to the flight to quality lows last week and we are now seeing yields rally back to unchanged on the day. MLPS are a bit lower after an up day yesterday. It continues to look as if we are heading back for a challenge of all time highs which is just 2 percent above current levels. Nat gas continues its rally and is up 1% on the day so far. The dow is down just 3 points as of this post.

There isn't much on the news front this morning. Regency Partners (RGNC) is raising money through an equity offering involving Kayne Anderson (KYN). The money is going toward a new purchase of assets between Energy Transfer Partners (ETP) and Regency. Regency is down fractionally while Energy Transfer is down 1.25 as of this post.

Markets look to be marking time. Crude is holding higher into lunchtime. Bulls continue to have the upper hand.