Stocks steady, bond yields cling to highs ahead of Fed testimony

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By Karin Strohecker and Sujata Rao LONDON (Reuters) – Global stocks edged up and bond yields clung to recent highs on Tuesday as investors awaited U.S. Federal Reserve Chair Jerome Powell’s appearance before the Senate Banking Committee, hoping for clues to the timing of expected policy tightening. Powell, who is seeking a second four-year term as head of the Fed, appears before the committee on Tuesday followed by a hearing with vice chair nominee Lael Brainard on Thursday. Equity markets had a bruising start to the year as bets that the Fed could raise interest rates as soon as March spurred…

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