(Global Edition) From the BBC World Service… A breakthrough in Germany four months after elections: Prime Minister Angela Merkel’s center-right block has made a deal with the center-left Social Democrats, with compromises in sight on migration and taxes. Afterwards, new data from China shows its trade surplus with the U.S. hit a record high last year. We’ll explain what that mean for the two nations. Then, the bond market caused whiplash for investors this week and though things have calmed down a bit, is more volatility on the way … and would it be such a bad thing? We chat with Allianz chief economic advisor Mohamed El-Erian.