Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From German lessons for GE to Macy's online woes, here are four charts that tell you what you need to know in business today.

Unicorn Hunting
Tencent has been aggressively investing in promising Asian startups. And now its gaze has turned to the U.S.
Source: CB Insights
Digital Dilemma
It's past time for Macy's to get serious about overcoming its mediocre online performance.
Source: eMarketer, U.S. Department of Commerce
Performance Gap
Siemens's continuing outperformance shows GE where it has gone wrong.
Saudi Shakeup
Investors in Saudi bonds and those of surrounding states very much need the country to wind down the current turmoil.
Source: Bloomberg

And don't miss Stephen Gandel on what a flattening tells equity investors: "The current flattening of the yield curve has come as something of a surprise. Most people thought it would widen this year. Last week, the monthly jobs report showed that unemployment hit a new low. And stock investors certainly don't anticipate a recession. The average stock in the S&P 500 Index trades at a price-to-earnings ratio of 19.5 based on this year's expected earnings. That's higher than average, suggesting that investors are relatively certain corporate profits will grow, not plunge in a recession.

Nonetheless, the disconnect between the outlook for the stock and bond markets is worrying."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

To contact the author of this story:
Max Nisen in New York at

To contact the editor responsible for this story:
Mark Gongloff at