Stocks Up, US Yields at 3 Percent as Markets Ready for Fed Hike

A general view shows the German share price index DAX board during afternoon trading as markets react on the coronavirus disease (COVID-19) at the stock exchange in Frankfurt, Germany, on March 25, 2020. Ralph Orlowski/Reuters

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.