By Ankur Banerjee and Alun John SINGAPORE/LONDON () -World stocks held steady on Tuesday in cautious year-end trading that has seen investors bracing for the incoming Donald Trump administration by scaling back bets on deep U.S. interest rate cuts in 2025, helping the dollar stand tall against most other currencies. Volumes were light with a holiday for the New Year looming, with the Santa-rally largely failing to materialise as elevated Treasury yields weigh on high equity valuations and boost the greenback. MSCI's world share index was flat on the day, but set to wrap up 2025 with a 16% annual gain. This year's rally has been largely a U.S. phenomenon, with the having risen around 24% compared with an 8% gain for MSCI's broadest index of Asia-Pacific shares outside Japan, and just 5% for Europe's . () But the mood latterly has been more cautious on the back of higher U.S. Treasury yields. The yield on the 10-year note reached 4.64% late last week, its highest...
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