Morning Bid: As CPI risk clears ... it's lift off!

A security official is seen next to a monitor showing the stock index price and Japanese yen exchange rate against the U.S. dollar at the Tokyo Stock Exchange in TokyoIt's 'green for go' in Asia on Thursday as stock markets around the world roar to fresh highs, boosted by renewed optimism that the Federal Reserve will soon start cutting U.S. interest rates following benign inflation figures on Wednesday.

Economists at UBS highlighted one particularly interesting nugget from the data - April marked the 16th time in 18 months when the non-seasonally adjusted core CPI one-month change was below the change 12 months prior. Maybe a trend is in place? All key drivers of growth are expected to have gone into reverse in the quarter, not a particularly conducive environment for further rate hikes from the Bank of Japan.

It's a big day for Chinese company news on Thursday, with heavyweights Baidu and JD.Com both reporting first quarter earnings. The stock market is about to see a 10% correction, with further disinflation a 'pipe dream' and Fed rate cuts coming much later, Stifel says Warren Buffett is hoarding $200 billion as he may see 'storm clouds' ahead, says top economist Steve Hanke

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