Amazing isn't it! And talk about relative outperformance, this week was a grand slam for MLPS as markets are swinging 500 points a day in either direction and right now down for the week on the DOW & S&P. We're up 4% on the week and unless there is a big surprise we will finish at the top of the heap come 4pm today. The recognition that 6% yields that continue to grow is alot better than 2.25% on a 10 year note.
There will be a little headwind on the MLP index today with Plains All American (PAA) doing a secondary which priced last night. The stock is down 2 this morning. Note that this is a stake holder selling shares and the company isn't getting a dime of this money. It is not dilutive. Otherwise from the news front it is very quiet this morning. No upgrades or downgrades.
Stock futures are higher ahead of the open by 100points. 10 year yields are lower from yesterday's spike rally in yields. Crude is up and nat gas is down a little after yesterday's rally.