diff --git a/CHANGELOG b/CHANGELOG
index 3dd62dd22..e0f64a11b 100644
--- a/CHANGELOG
+++ b/CHANGELOG
@@ -1,6 +1,10 @@
-2.8.6.dev1
+2.8.7.dev1
 ----------
 
+
+2.8.6
+-----
+
 - fix #1259: allow for double nodeids in junitxml,
   this was a regression failing plugins combinations
   like pytest-pep8 + pytest-flakes
diff --git a/HOWTORELEASE.rst b/HOWTORELEASE.rst
index fd104722a..34c4564dd 100644
--- a/HOWTORELEASE.rst
+++ b/HOWTORELEASE.rst
@@ -27,10 +27,6 @@ Note: this assumes you have already registered on pypi.
        devpi list pytest
 
    or look at failures with "devpi list -f pytest".
-   There will be some failed environments like e.g. the py33-trial 
-   or py27-pexpect tox environments on Win32 platforms
-   which is ok (tox does not support skipping on
-   per-platform basis yet).
 
 7. Regenerate the docs examples using tox, and check for regressions::
 
diff --git a/README.rst b/README.rst
index 6465bd756..2a4d7839f 100644
--- a/README.rst
+++ b/README.rst
@@ -1,4 +1,4 @@
-.. image:: doc/en/img/pytest1.png
+.. image:: http://pytest.org/latest/_static/pytest1.png
    :target: http://pytest.org
    :align: center
    :alt: pytest
diff --git a/_pytest/__init__.py b/_pytest/__init__.py
index d9ec9eb3e..641025873 100644
--- a/_pytest/__init__.py
+++ b/_pytest/__init__.py
@@ -1,2 +1,2 @@
 #
-__version__ = '2.8.6.dev1'
+__version__ = '2.8.7.dev1'
diff --git a/doc/en/announce/index.rst b/doc/en/announce/index.rst
index c0c6fbeca..1e1058cec 100644
--- a/doc/en/announce/index.rst
+++ b/doc/en/announce/index.rst
@@ -6,6 +6,7 @@ Release announcements
    :maxdepth: 2
 
 
+   release-2.8.6
    release-2.8.5
    release-2.8.4
    release-2.8.3
diff --git a/doc/en/announce/release-2.8.6.rst b/doc/en/announce/release-2.8.6.rst
new file mode 100644
index 000000000..215fae51e
--- /dev/null
+++ b/doc/en/announce/release-2.8.6.rst
@@ -0,0 +1,67 @@
+pytest-2.8.6
+============
+
+pytest is a mature Python testing tool with more than a 1100 tests
+against itself, passing on many different interpreters and platforms.
+This release is supposed to be drop-in compatible to 2.8.5.
+
+See below for the changes and see docs at:
+
+    http://pytest.org
+
+As usual, you can upgrade from pypi via::
+
+    pip install -U pytest
+
+Thanks to all who contributed to this release, among them:
+
+    AMiT Kumar
+    Bruno Oliveira
+    Erik M. Bray
+    Florian Bruhin
+    Georgy Dyuldin
+    Jeff Widman
+    Kartik Singhal
+    Loïc Estève
+    Manu Phatak
+    Peter Demin
+    Rick van Hattem
+    Ronny Pfannschmidt
+    Ulrich Petri
+    foxx
+
+
+Happy testing,
+The py.test Development Team
+
+
+2.8.6 (compared to 2.8.5)
+-------------------------
+
+- fix #1259: allow for double nodeids in junitxml,
+  this was a regression failing plugins combinations
+  like pytest-pep8 + pytest-flakes
+
+- Workaround for exception that occurs in pyreadline when using
+  ``--pdb`` with standard I/O capture enabled.
+  Thanks Erik M. Bray for the PR.
+
+- fix #900: Better error message in case the target of a ``monkeypatch`` call
+  raises an ``ImportError``.
+
+- fix #1292: monkeypatch calls (setattr, setenv, etc.) are now O(1).
+  Thanks David R. MacIver for the report and Bruno Oliveira for the PR.
+
+- fix #1223: captured stdout and stderr are now properly displayed before
+  entering pdb when ``--pdb`` is used instead of being thrown away.
+  Thanks Cal Leeming for the PR.
+
+- fix #1305: pytest warnings emitted during ``pytest_terminal_summary`` are now
+  properly displayed.
+  Thanks Ionel Maries Cristian for the report and Bruno Oliveira for the PR.
+
+- fix #628: fixed internal UnicodeDecodeError when doctests contain unicode.
+  Thanks Jason R. Coombs for the report and Bruno Oliveira for the PR.
+
+- fix #1334: Add captured stdout to jUnit XML report on setup error.
+  Thanks Georgy Dyuldin for the PR.