Dayrates under pressure;Impairment risks and lower utilization;Sustainable lower capex;small FX positiv US Daily: Revising our Fed Call (Hatzius/Pandl) China Infrastructure and Transportation:FY15 Results preview Morning Meeting Daily Will central banks have the time to reduce debt ratios before a debt crisis breaks out？ What effects of a lasting fall in long- and very-long-term interest rates？ Continental Europe: An area of economic stability in a complicated world? Is there a problem if euro-zone inflation remains between 0.5% and 1%? APAC Equity Strategy Singapore Morning Note