MLP Fund GER Outperforms KYN in Week Ended October 2
The Goldman Sachs MLP and Energy Renaissance Fund (GER) fell 4.5% in the week ended October 2, while SPY rose 1.1% and XLE rose 2.4%.
The Kayne Anderson MLP Investment Company (KYN) fell 5.4% in the week ended October 2, 2015. In comparison, the Alerian MLP ETF (AMLP), an ETF of infrastructure MLPs, rose 3.3% during the week.
The Yorkville High Income MLP ETF (YMLP) fell 1.5% in the week ended October 2. For context, the broad market SPDR S&P 500 ETF (SPY) rose 1.1%, and the Energy Select Sector SPDR ETF (XLE) rose 2.4%.
The Credit Suisse X-Links Cushing MLP Infrastructure ETN (MLPN) rose 2.0% in the week ended October 2, 2015. MLPI and AMJ rose 3.6% and 3.8%, respectively.
The JPMorgan Alerian MLP Index ETN (AMJ) gained 3.8% in the week ended October 2. The Alerian MLP Index (AMZ) is AMJ’s underlying index. It rose 3.9% during the same week.
The ETRACS Alerian MLP Infrastructure Index ETN (MLPI) gained 3.6% in the week ended October 2. It closely tracks the Alerian MLP Infrastructure Index (AMZI), its underlying index.
In the week ended October 2, 2015, the Alerian MLP ETF (AMLP) rose 3.3% compared to its close on September 25. During the same time frame, SPY rose 1.1% and XLE rose 2.4%.
The top upstream MLP gainers include Mid-Con Energy Partners (MCEP), Legacy Reserves, BreitBurn Energy Partners, and Memorial Production Partners.
Plains All American Pipeline (PAA) was the worst performer among midstream MLPs at the end of trading on Monday, October 5. It rose 0.15%.
Midcoast Energy Partners (MEP) was the best performer among midstream MLPs at the end of trading on Monday, October 5. It rose 12.35%.
Employment costs increased 0.2% in the quarter ending June 30, 2015. This was a small increase from the fourth quarter of 2014.
In September, the labor force participation rate slid to 62.4%, its lowest point since 1977. The labor force declined from 157.1 million to 156.7 million, while the population increased from 251.1 million to 251.3 million.
In September, the unemployment rate held constant at 5.1%, or about 8 million people. The underemployment rate slipped to 10.0%, and the labor force decreased by about 350,000 people.
Top upstream MLPs on October 2 include Mid-Con Energy Partners MCEP (MCEP), Legacy Reserves (LGCY), Eagle Rock Energy Partners (EROC), and LRR Energy (LRE).
World Point Terminals (WPT) was the worst performer among midstream MLPs at the end of trading on Friday, October 2, falling 1.92%.
Southcross Energy Partners was the best performer among midstream MLPs (master limited partnerships) at the end of trading on Friday, October 2.
The Alerian MLP ETF (AMLP) traded at a yield of 8.70% last week, from 9.05% the previous week. US ten-year Treasury yields fell to close at 1.99%, from 2.17% the week before.
The NYMEX near-month WTI crude oil futures prices fell 0.4% in the week ended October 2, closing at $45.54 per barrel on Friday. Brent fell 1.0% to $48.13 per barrel.
According to data released on September 30, US crude oil inventories rose 0.9% in the week ended September 25. The refinery utilization rate in the United States fell to 89.8% that week.
Mont Belvieu ethane prices fell to $0.191 per gallon for the week ended October 2. Low prices and higher costs for storing and transporting ethane have resulted in ethane rejection.