Unable to upgrade or relaunch older docker-compose file

While upgrading my docker-compose with the new one I get this:

Creating network "gitlab_default" with the default driver
Creating gitlab_postgresql_1
Creating gitlab_redis_1
Creating gitlab_gitlab_1
Attaching to gitlab_postgresql_1, gitlab_redis_1, gitlab_gitlab_1
postgresql_1  | Initializing datadir...
postgresql_1  | Initializing certdir...
redis_1       | Starting redis-server...
redis_1       | [1] 30 Nov 17:07:24.063 # Server started, Redis version 2.8.4
redis_1       | [1] 30 Nov 17:07:24.063 # WARNING overcommit_memory is set to 0! Background save may fail under low memory condition. To fix this issue add 'vm.overcommit_memory = 1' to /etc/sysctl.conf and then reboot or run the command 'sysctl vm.overcommit_memory=1' for this to take effect.
postgresql_1  | Initializing logdir...
postgresql_1  | Initializing rundir...
postgresql_1  | Setting resolv.conf ACLs...
postgresql_1  | Creating database user: gitlab
postgresql_1  | Creating database: gitlabhq_production...
Traceback (most recent call last):
  File "/usr/bin/docker-compose", line 11, in <module>
    load_entry_point('docker-compose==1.9.0', 'console_scripts', 'docker-compose')()
  File "/usr/lib/python3.5/site-packages/compose/cli/main.py", line 65, in main
    command()
  File "/usr/lib/python3.5/site-packages/compose/cli/main.py", line 117, in perform_command
    handler(command, command_options)
  File "/usr/lib/python3.5/site-packages/compose/cli/main.py", line 862, in up
    log_printer.run()
  File "/usr/lib/python3.5/site-packages/compose/cli/log_printer.py", line 98, in run
    self.output.write(line)
UnicodeEncodeError: 'ascii' codec can't encode character '\u2023' in position 25: ordinal not in range(128)

I get the same final error if I use my old docker-compose file:

docker-compose -f docker-compose-tmp.yml up
Creating gitlab_redis_1
Creating gitlab_postgresql_1
Creating gitlab_gitlab_1
Attaching to gitlab_postgresql_1, gitlab_redis_1, gitlab_gitlab_1
postgresql_1  | Initializing datadir...
postgresql_1  | Initializing certdir...
postgresql_1  | Initializing logdir...
redis_1       | Starting redis-server...
postgresql_1  | Initializing rundir...
redis_1       |                 _._
redis_1       |            _.-``__ ''-._
redis_1       |       _.-``    `.  `_.  ''-._           Redis 2.8.4 (00000000/0) 64 bit
redis_1       |   .-`` .-```.  ```\/    _.,_ ''-._
redis_1       |  (    '      ,       .-`  | `,    )     Running in stand alone mode
redis_1       |  |`-._`-...-` __...-.``-._|'` _.-'|     Port: 6379
redis_1       |  |    `-._   `._    /     _.-'    |     PID: 1
redis_1       |   `-._    `-._  `-./  _.-'    _.-'
redis_1       |  |`-._`-._    `-.__.-'    _.-'_.-'|
redis_1       |  |    `-._`-._        _.-'_.-'    |           http://redis.io
redis_1       |   `-._    `-._`-.__.-'_.-'    _.-'
redis_1       |  |`-._`-._    `-.__.-'    _.-'_.-'|
redis_1       |  |    `-._`-._        _.-'_.-'    |
redis_1       |   `-._    `-._`-.__.-'_.-'    _.-'
redis_1       |       `-._    `-.__.-'    _.-'
redis_1       |           `-._        _.-'
redis_1       |               `-.__.-'
redis_1       |
postgresql_1  | Setting resolv.conf ACLs...
redis_1       | [1] 30 Nov 17:11:13.719 # Server started, Redis version 2.8.4
redis_1       | [1] 30 Nov 17:11:13.719 # WARNING overcommit_memory is set to 0! Background save may fail under low memory condition. To fix this issue add 'vm.overcommit_memory = 1' to /etc/sysctl.conf and then reboot or run the command 'sysctl vm.overcommit_memory=1' for this to take effect.
redis_1       | [1] 30 Nov 17:11:13.720 * DB loaded from disk: 0.001 seconds
redis_1       | [1] 30 Nov 17:11:13.720 * The server is now ready to accept connections on port 6379
redis_1       | [1] 30 Nov 17:11:13.720 * The server is now ready to accept connections at /var/run/redis/redis.sock
postgresql_1  | Creating database user: gitlab
gitlab_1      | Initializing logdir...
gitlab_1      | Initializing datadir...
gitlab_1      | Installing configuration templates...
gitlab_1      | Configuring gitlab...
postgresql_1  | Creating database: gitlabhq_production...
Traceback (most recent call last):
  File "/usr/bin/docker-compose", line 11, in <module>
    load_entry_point('docker-compose==1.9.0', 'console_scripts', 'docker-compose')()
  File "/usr/lib/python3.5/site-packages/compose/cli/main.py", line 65, in main
    command()
  File "/usr/lib/python3.5/site-packages/compose/cli/main.py", line 117, in perform_command
    handler(command, command_options)
  File "/usr/lib/python3.5/site-packages/compose/cli/main.py", line 862, in up
    log_printer.run()
  File "/usr/lib/python3.5/site-packages/compose/cli/log_printer.py", line 98, in run
    self.output.write(line)
UnicodeEncodeError: 'ascii' codec can't encode character '\u2023' in position 25: ordinal not in range(128)

Reproduce with docker-compose -f docker-compose-tmp.yml up and capture the UnicodeEncodeError from /usr/bin/docker-compose. Start by reading compose/cli/log_printer.py, especially log_printer.run and its output handling. Done means the reported compose invocation can process the shown non-ASCII log character without terminating with the traceback.