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obviously not a small cap, nor UK - but keep a look out at whats happening on some large borderline investment grade companies in the US... Ford for instance. This has a large issuance out there and Moodys downgraded to junk last night. most funds require a 2 out of 3 main rating agency IG rating to keep holding.  They have cUSD80bn of total debt. …

Air Partner (LON:AIR) update as well. Less emphasis on the dreaded H2 weighting - which I guess should be positive. And I see Liberum have moved it to "BUY" - whatever thats worth...

I think Graham is giving an explanation of the view that if you think the risks are assymetric (ie GBP has close to bottomed), then future expectations would be of a lower FTSE100 level from a ccy point of view - and there might be some discounting today of that GBP profile.Graham - I like the new profile more squinting !

Air Partner (LON:AIR) update - the dreaded second half weighting to make everything better

Hi Ed. This is an extremely well presented argument to take this website forward. Very supportive of the move and of the platform in general.

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