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Thursday, June 23, 2011


I guess it should be no surprise that the fed said yesterday that things are not very good out there. So the market started selling off late yesterday and overnight. Now we have subdued jobless claims and crude down almost 4 dollars and markets are taking gas. Futures are sharply lower and MLPS at least at the open will follow suit. That open looms in minutes.

No news and no upgrades or downgrades for mlps this morning. The dollar is up. Rates are flirting with all time lows on the 2 year. 2.90 on the 10 and 4.15 on the 30 year is not a strong endorsement of a booming economy. The dollar is rallying on all this so it looks like its a downward thrust at the open and then we'll see what happens.

Nat gas was down but is now even on the day as nat gas numbers are due out at 10:30am.

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