Week Thoughts: Liberty and Reconciliation for All
Biggest week and biggest month of the year for midstream...
MLPs rode a hot week for the stock market, oil prices and energy stocks to a great finish to July. It was the best week of the year for midstream, best week for MLPs since early March 2021. Midstream beat utilities, the S&P 500 and infrastructure but lagged S&P 500 Energy stocks.
Oil prices were up, interest rates were down. Really great conditions for a follow through even without much of a boost from earnings announcements, especially with Senator Manchin pushing for support of all energy in the reconciliation bill this week.