HK Market Quarterly Outlook and Sector Update Giant Steps CEEMEA & Latam Daybook Working Out The Lats: Removing NKE from AFL & Lowering VFC Price Target (Pictorial Herein) Model Update Lowering Postpaid Net Adds for T & VZ, Raising for S & TMUS; Activity Subdued, But New Promotions Will Come Spot rates fell w/w as A-E routes started to give back gains achieved post HJS bankruptcy; Transpac rates remain steady Gas suppliers to raise prices in winter? Russia overtakes Saudi as largest oil exporter to China Key Takeaways From Our "Endless Summer" Restaurant Forum in Santa Barbara Earnings outlook strengthened