August 2019 MLP Update and News

Midstream master limited partnerships (MLPs), as measured by the Alerian MLP Index (AMZ), ended July down 0.9% on a price basis and down 0.3% once distributions were considered. That trailed the S&P 500 Index’s 1.4% total return for the month. The Petroleum Pipeline group lead the midstream subsector in July, while the Natural Gas Pipeline […]


Real House Prices and Price-to-Rent Ratio in May

Here is the post last week on Case-Shiller: Case-Shiller: National House Price Index increased 3.4% year-over-year in May It has been over eleven years since the bubble peak. In the Case-Shiller release last week, the seasonally adjusted National Index (SA), was reported as being 13.2% above the previous bubble peak. However, in real terms, the […]


5 key investment themes for the remainder of 2019

Over recent weeks, we have been vocal about five “big themes” for markets that will likely dominate the second half of 2019. These themes take stock of a collection of secular and cyclical factors that have combined to create an unprecedented macro backdrop. Specifically, over recent quarters excessively tight global monetary policy and contracting global […]


Mortgage Rates and Ten Year Yield

With the ten year yield at 1.63%, and based on an historical relationship, 30-year rates should currently be around 3.5%. As of yesterday, Mortgage News Daily reported: Lowest Rates Since November 2016 Mortgage rates hit their lowest levels since November 2016 late last week and they’ve proceeded to set a new long-term low each day […]


Boosterism debunked

This post by me was on The Conversation, a blog reserved exclusively for academics, today: It looks like Boris Johnson is opting for a novel approach to economic policy. Not for him the idea of Johnsonomics, to follow in the path of Osbornomics and Corbynomics. Nor, apparently, will there be Johnsonism, as in Thatcherism. Instead it is reported that […]


Combating the Stress of Wedding Planning

Congratulations — you’re engaged! While the media might lead you to believe that the stress of wedding planning is overwhelming and expensive, it certainly doesn’t have to be. In this article, you’ll find the best tips and tactics for planning a wedding on a budget you can afford– all without the stress and overwhelm! There… […]


The letter I’d write to Michael Gove

Michael Gove has suggested that the EU is not willing to negotiate on Brexit. If I was in Brussels this is the letter I might be inclined to send him: Dear Mr Gove We have noted your suggestion that we in the European Union are not willing to negotiate with the United Kingdom at present. […]


John McDonnell gets Scotland right

John McDonnell appeared at the Edinburgh Fringe yesterday, and somewhat upset his party in Scotland. According to The National (Scotland’s only pro-independence paper): McDonnell told LBC host Iain Dale that the issue would be for the “Scottish Parliament and the Scottish people to decide”. He added: “They will take a view about whether they want […]