The averages I follow closely were quiet, but the Alerian MLP Index deserves special mention. Yesterday it pulled back after maxxing out at 200 on the prior day (following one its best gains in history). Today it rebounded, up 3 to 197½, looks like it may be trying for another assault on the 200 ceiling.
Good news for MLPs. Enterprise Products Partners (EPD), shown in my finance badge on the right, raised the quarterly distribution by 3¢ to 53¢, their 18th consecutive quarterly increase. Earlier this week they had a successful offering of more units. With all this good news, their yield approximates 10%!
Enterprise Increases Cash Distribution Rate
Alerian MLP Index --- 2 weeks
S&P 500 FINANCIALS INDEX, high yield (junk) bonds & REITs were mixed, VIX slipped pennies.
Dreary retail sales and unemployment figures sank oil. The chart shows war scare in the Mid East could not overcome fears about the economic global meltdown. Numbers for the OIL ETF do not match quotes for oil prices, but it tracks correctly:
| CLG09.NYM | Crude Oil Feb 09 | 41.70 | .. 0.93......(2.2%) |
OIL (ETF) --- 2 weeks
Long-term mortgage rates dropped this week to a record low of 5.01% (compared to 5.87% a year ago) according to Freddie Mac. This is the 4th consecutive record low rate & the lowest rate since record keeping began 37 years ago.
- Rate on 30-year fixed-rate mortgage hits new low- MarketWatch
Tomorrow the dreaded jobs report. Grrrr!
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