Saw the headlines, durable goods orders up more than expected, job claims nos up. Economy is improving and unemployment isn't??? Saw a factoid, every new house start increases employment by 3, to avg would add 600k jobs, that's only half a percentage pt. Seems cos will continue to grow, they have all refinanced debt, if the globe continues to improve and the Fed is stuck with low rates for long time. Although the market seems to be moving rates already, the 10 yr T to 2.6%. Day of reckoning with the debt is out there but no one cares at the moment. Would be messy if the Fed loses control. Not many levers left.
Magellan Midstream, the dist growth target had been 10%, couple with the dist, should return close to 20% a year. The infrastructure cos continue to benefit from the shale plays. They raised this quarter 5% from last quarter.
"Magellan's operations continue to generate strong results and our growth projects remain on track," said Michael Mears, chief executive officer. "As a result, we are pleased to raise our annual distribution growth targets to 16% for 2013 and 15% for 2014, reflecting our confidence in Magellan's future."