Week Thoughts: MLPs Go Back for Seconds

MLPs Beat a Strong Market

The three Ts worked for the market this week: Treasury Secretary pick, tariffs, and turkey. Interest rates dropped 25 bps, and the stock market had a good week. Oil prices and energy stocks struggled, but midstream overall held up. Canadian midstream were hurt by tariffs, U.S. midstream was mixed, and MLPs benefitted from the scarcity created by latest takeout announcement.

The OPEC meeting was delayed, which took a surprise OPEC announcement off the table through the weekend, so it was a pretty chill week overall. Hope everyone had a nice break.