Aug. 20 - Scant data makes markets focus on policy, though ECB pours cold water on a Spiegel report on bond yield caps. Meanwhile Greek PM Samaras prepares for a series of crunch talks.
Yields on Spanish and Italian bonds fall sharply off to Germany's -- legal magazine says the ECB could set a threshold on yields. And spreads to bond purchases. Not much in the way of data tomorrow so investors will maintain that focus on the latest twist concerns and yours and policy. The short trip continues its assessment of Greece as debate over its eurozone membership continues to rage. Greece's foreign minister says Aaron eleven point seven billion -- reform package. Will be presented in the coming weeks which will meet conditions for receiving officially. Three prominent Santa to some on us meets Europe group had -- code you'll conference present Francois all long. And German Chancellor Angela Merkel later this week cash shuttle diplomacy picks up pace ahead of a -- September up. The ECB post Cold War try my -- Spiegel reports say it's misleading to -- bad decisions nor yet taken. But you -- -- -- next head of European race strategy Credit Agricole says recent comments by German chancellor Merkel suggest a more open ended commitment from the ECB could be possible. If there was a done deal you see the market titan and much more that has you know you see moves in the hundreds of basis points right and tens of basis points so what the market is doing now it seems to me. He's saying there's a possibility of this -- maybe not even a great possibility but it's not trivial. One bit of they said you -- choose today is UK public sector net borrowing for July that comes ahead of Friday's second -- release of Q2 GDP. They should get a boost from -- would revisions to construction and production output. Earnings due tomorrow include interim results from going corn messing -- of the commodities trader full cost full buy more than a third that is likely to dash hopes. Of a sweetened bid for a strong outside. Cats are holding Xstrata second largest shareholder has urged -- court to raise the -- swap ratio above two point race. I'm more clear result assays at the British housing market with the earnings from the country's largest home builder customer and it's expected to report a 30% rise in pretax profit. Coming up on inside -- will speak to be head of the World Trade Organization Pascal army life from Geneva. Thirteen hundred bsc will get his views on Russia formally joining the group. -- almost two decades -- negotiation. I'm axle problems Israelis and.