WGP - False Start Midstream Gets A Do-Over
It was a rough start to the school year all over the market. MLPs and U.S. midstream corporations outperformed a weak broad market and held up much better than energy stocks. But after the last few weeks, languishing midstream stock performance was still a disappointment. The broad midstream index (AMNA) was in line with the S&P 500, dragged down by heavy Canadian exposure that underperformed.
Midstream did have positive intra-day reversals in 3 of 4 days this week, especially and Wednesday when the MLP Index went from down 1.2% and finished up 0.4%. That resilience