A Few FWIW Insights (FX … Stocks … Performance Drivers)

O Canada…The New Land of Opportunity. So Much Potential, Yet…CAD Rally Nonetheless

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Transport Sector, China and Asia-focused Research

Charles De Trenck

Event-Driven

Jpmorgan Alerian Mlp Index Etn / Event-Driven

There are many theories why mainly US energy MLPs are underperforming energy prices and plays in general. The most likely #1 reason is tax related selling, but perhaps also combined with tax policy change related reasons as well as cash raising for a new MLP IPO.Main Issues<ol><li>
NEW IPO Impact. The new MLP, BP Midstream Partners, raised about $765m and priced at $18, below its indicated $19 – 21 range. At about $1.05 distribution this puts the distribution yield on about 5.8%. For comparison, the best…</li></ol>

There are many theories why mainly US energy MLPs are underperforming energy prices and plays in general. The most likely #1 reason is tax related selling, but perhaps also combined with tax policy change related reasons as well as cash raising for a new MLP IPO.Main Issues
NEW IPO Impact. The new MLP, BP Midstream Partners, raised about $765m and priced at $18, below its indicated $19 – 21 range. At about $1.05 distribution this puts the distribution yield on about 5.8%. For comparison, the best…

Jpmorgan Alerian Mlp Index Etn

Time to Look at MLPs Again