An exciting week in prospect – Trump in the UK, Xi in Russia, the US Employment Report on Friday. The ECB on Thursday. I would advise avoiding central London for the next few days – its likely to be full of demonstrators. I will publish the best original photos from Readers of the Trump Baby balloon… not because I think it's particularly smart to be insulting our greatest trade partner, (perhaps our only trade partner if Brexit pans out as badly as it might), but because it's kinda funny, and we need something to cheer us up.

I was going to scribble something about how Trump's latest twitterstorm targeting Mexico highlights the risks to any and all emerging market economies, but he's also taken India off the developing nations list, hinting they are also in his book of names to be "sorted". Is it just random? Or is it part of some grand plan?