Stocks From Europe To Asia Climb On China; Oil Declines

Merkel Says Europe Can’t Just Rest on Its Renaissance Laurels

Benchmark gauges in Abu Dhabi and Qatar jumped 5.5 percent and 4.9 percent respectively. Israels TA-25 Index advanced 1.6 percent. Russia sold its first sovereign bonds in euros, along with dollar debt, raising 725 million euros ($962 million) from seven-year securities and $6 billion in bonds due in 2019, 2023 and 2043. South Africa sold $2 billion of 12-year bonds in overseas debt markets after boosting the size of the offering. The yen slid 0.7 percent to 100.25 per dollar, the weakest since July 25, and lost 0.7 percent versus the euro. The U.S. currency was little changed at $1.3259 per euro. Norways krone jumped 1.3 percent to 7.8616 per euro after inflation accelerated faster than analysts estimated. Treasury Auction Treasury three-year note yields were up four basis points at 0.88 percent, double the 0.44 percent average over the past year , as refuge demand waned on speculation a Russian proposal for Syria to put its chemical weapons under international control will avert a U.S. military strike. Notes fell even after an auction of $31 billion in three-year debt drew a lower-than-forecast yield. Ten-year yields traded at almost 3 percent after reaching that level last week for the first time since 2011 amid bets the Federal Reserve will trim its $85 billion-a-month stimulus at its next meeting. Ten-year gilt yields climbed six basis points to 3.02 percent, the highest since July 2011.

BlackRock’s Kapito on Financial Markets, Strategy

She again rejected creating euro bonds or a debt redemption fund as means to aid indebted single currency states. My concern is that we in Europe are so accustomed to being the leading group of this world that we dont even see how other countries are catching up, Merkel said. I dont want us to be a continent in the end where one looks and travels to and says lets see what these Renaissance buildings look like, lets look at where the first car was built, and everything thats modern, thats innovative, thats great and advances mankind happens elsewhere. Sounding Alarm As the race tightens, Merkel and her Christian Democratic Union are sounding the alarm over a possible SPD-led coalition that includes the anti-capitalist Left Party, the successor to former East Germanys communists that wants to nationalize all big banks, ban hedge funds and raise taxes. In a Sept. 8 weekly Emnid poll for Bild am Sonntag newspaper, 50 percent of those polled said they want Merkel as chancellor compared with 35 percent who favored Steinbrueck. While Merkels popularity dropped two points, Steinbruecks increased seven points. In a separate weekly INSA poll for Bild-Zeitung newspaper published yesterday, Merkels pro-market Free Democrat coalition partner fell one point to 4 percent, below the 5 percent threshold needed to win seats in parliament. INSA is the only polling company among seven that has the FDP below 5 percent support. Greens Fall While backing for the CDU and its Christian Social Union Bavarian sister party held at 39 percent, Steinbruecks SPD gained one point to 28 percent. The Greens party dropped two points to 11 percent and the Left Party held at 8 percent support. Bild said INSA surveyed 2,132 voters Sept. 6-9, without providing details on the margin of error. German voters cast ballots for members of parliament and parties and dont directly elect the chancellor. The vote will be very close, Merkel said in a speech at a rally in Dusseldorf on Sept.