The jobs numbers out this morning caused a rise in T-bill interest rates. The change was small but significant. This could have caused a temporary chill in interest rate sensitive securities like MLP's.
Huh? ^AMZX (MLP index) is less than 2% from the all time high.
Down 1% today. Wow, if that's a crash to you, I'd recommend you stay out of the market.
Must there be an explanation for every 1% move?
btw, oil prices were down, that is probably the reason.
Will bounce back to 87+ in a few days
Kinder Morgan Energy Partners, announced that it has completed the previously announced acquisition (drop down) of 50 percent of El Paso Natural Gas Company, (EPNG) and 50 percent of former El Paso Midstream assets in Utah and South Texas from Kinder Morgan, Inc.
Sentiment: Strong Buy
Seasonal price cycle peaked in January (see KMR), distribution of shares to the public taking place now. Lower prices brings higher yields and increases the market. Institutional buying running out of MLP funds.