"Global Markets React to Powell's Rate Hike Signals and Duty Cuts"

European stocks traded higher as investors weighed the possibility of higher interest rates from the U.S. Federal Reserve. Fed Chair Jerome Powell signaled that the central bank is ready to continue hiking rates to combat persistently high inflation. The prospect of higher rates caused a surge in 10-year yields, but some analysts believe it represents an attractive entry point for bond investors. Meanwhile, Asian stocks rose after China's Ministry of Finance cut the stamp duty on stock trades to boost investment. Concerns remain over structural issues in China's economy. In Europe, Swiss bank Credit Suisse reported a loss, while technology and industrial stocks performed well. The upcoming release of U.S. nonfarm payrolls data will guide the Fed's monetary policy.