1. Exchange rates – “Chinese devaluation is a bigger danger than Fed rate rises…The yuan has fallen to the lowest in five years against the dollar. If China devalues in earnest, it will be an earthquake” (link here).
At least the fiscal stimulus still apparent as per this chart from @Callum_Thomas:
2. I write up the most recent trading update from the hotels-to-coffee company Whitbread...
3. ...as well as the latest thoughts from Glencore whose shares rose strongly today. I particularly liked the chart below on debt reduction which is so important.
4. I also listen to the Yum! Brands investor call where they talked about the future of the company including a big return of capital and the splitting off of the China unit. Some really fascinating charts...and a full write-up will be published on Financial Orbit tomorrow.
5. Finally, I thought this was a great posting for European equity watchers on Fast FT. I particularly liked this chart showing that the earnings expectation ramp into 2016 is not as high as is the norm. Another indication that companies that make real progress that are listed on the European bourses