/PRNewswire/ Magellan Midstream Partners, L.P. (NYSE: MMP) announced today an agreement to sell its independent terminals network comprised of 26 refined.
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Six months ago, I forecasted that bonds of all stripes would extend their winnings this year. Then fears of inflation and rising interest rates sent Treasury and corporate bond yields up and sent bond prices, which move in the opposite direction, down 5% or more over the first three months of 2021 – with the exception of high-yield junk bond prices.
Although long-term interest rates, including corporate and Treasury yields, leveled off in April and backslid in May, my prophecy of positive total returns is in manifest jeopardy.
Through May 7, the Vanguard Total Bond Market ETF (BND) shows a loss of 2.5%. If that continues, 2021 would be the first down year for this popular yardstick since 2013.
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Midstream master limited partnerships (MLPs), including those residing in the the
ALPS Alerian MLP ETF (NYSEArca: AMLP), are participating in this energy sector rally. In fact, AMLP and midstream names are among the leaders.
AMLP, the largest exchange traded fund dedicated to MLPs, follows the Alerian MLP Infrastructure Index. That benchmark is home to energy infrastructure companies involved in processing, storage, and transportation of oil and natural gas.
The ETF performed admirably in the first quarter, and plenty of its constituents delivered solid results for the first three months of the year, despite some challenges.
“Though some companies faced headwinds due to the weather, these seemed to be fairly muted and offset to some extent by an overall improving macro backdrop,” writes Alerian Director of Research Stacey Morris. “Combining widespread beats with a stronger macro backdrop, management teams largely struck an optimistic tone on the future. In many cases, guid