The broad market crapped out Friday after rallying Thursday on perceived Fed support, but midstream outperformed on the day and the week. Oil price strength, a 15 bps drop in the US 10-year rate, and another positive private equity data point supported midstream this week. MLPs made up some ground on the broad midstream index ((AMNA)), which was dragged down by weaker Canadian stocks, but U.S. corporations and the AMUS kept pace.
Midstream beat the broad equity market and utilities. Oil prices were strong most of the week, breaking through $60/bbl briefly Thursday.
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