last word on chinese bonds declining as policymakers tighten controls of financial markets and the pb oced its cash injection, pushing the 10 year yield to the 4% mark. let's get first word news with stephen ingles. german chancellor angela merkel would rather face a new election than run a minority negotiationss broke down with the pro-business free democrats. angela merkel said she would prefer to go back to the electorate in an attempt to govern without a majority or clear mandate. i have no plans for a minority government at the moment, so we have to wait. a new election is one way, and a minority government is another. that would be something to be thought of very carefully. i don't want to say never, but i am skeptical and i think new elections would be a better way. the ecb expected to make small adjustments to policy guidance next year rather than a major change. euro area officials tell us it should be consistent with the gradual withdrawal from stimulus , and merrier drug he has made it clear that for veterans will be a key policy tool and says the exits from qe remains on trac