MILAN—World stocks rose on Tuesday and U.S. 10-year Treasury yields held above 3 percent as investors prepared for the Federal Reserve’s biggest rate hike since 2000.
In a busy week for central bank meetings, Australia’s central bank raised its key rate by a bigger-than-expected 25 basis points on Tuesday, lifting the Aussie dollar as much as 1.3 percent and hitting local shares.
On Thursday, the Bank of England is expected to raise rates for the fourth time in a row.
MSCI’s benchmark for global stocks gained 0.1 percent by 0813 GMT as European shares rose after surviving a “flash crash” on Monday caused by a single sell order trade by Citigroup.
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