1. China / emerging markets – Chinese market still volatile, down earlier today and now up into the close. Only the masses still piling in however from the perspective of net new account flows...
At least the yuan has stopped falling…
2. Glencore shares fell sharply. I wrote up the numbers here - and was not impressed.
3.Carlsberg numbers also did not meet hopes...but the question is at what price do you buy the shares? Link here.
5. So the Federal minutes were a bit mixed.
'Approaching' rate decision but 'subdued' wages & various #China worries. Think people too optimistic re rate change
Meanwhile as I talked about in yesterday's wrap don't be too fearful of a first US interest rate rise. Actually it may lead to returns you do not expect: