Midstream was negative this week, along with most other global equities and commodities. Midstream outperformed broader energy stocks, but underperformed the S&P 500 and utilities, which continue to grind higher. It was a big week for ex-dividend dates across midstream, which tends to correlate to weaker performance generally for MLPs.
It was a bummer of a week all around, with the tragic story of Kobe Bryant and eight others on Sunday hitting dads across the nation especially hard. The tone remained negative throughout the week, as concerns over the coronavirus led to the first federally-mandated