Downgrade to UW(V): Challenges emerge Asia Technology：Implications of the new iPhones and Apple Watch launch Coal intervention likely to have limited impact on IPPs N: More competition in gDacogen and gCopaxone Update on pumped pwr tariff, coal price, CEI, Jinko, China Tian Lun Gas Too much light The Quarterly Services Survey may point to even more Q2 GDP Revisiting risk-reward beyond short-term volatility Upgrading: the place to go for better ADT CEEMEAnomics