Stocks of all kinds were positive in this pre-holiday week, except for MLPs. Midstream overall lagged the broad market, despite oil and natural gas price gains. The publicity of upstream bankruptcies (I believe four filed Ch. 11 this week) may have been a factor in the underperformance of MLPs. Natural gas and ethane prices bounced double digits off severe lows from last week.
Bankruptcy week and ongoing fund outflows from MLP-focused open-end funds and ETFs. Absent further violent disruptions in valuations, expect the fund outflow trend to continue as it has over the last few