GLOBAL MARKETS - Stocks Hit Record Highs, Yields Fall; US CPI Raises Rate Cut Hopes

GLOBAL MARKET - NEW YORK, May 15 (Reuters) - Global stock markets rose to record highs while U.S. Treasury yields and the U.S. dollar fell on Wednesday as data showed U.S. consumer prices rose less than expected in April, suggesting inflation has resumed a downward trend in the second quarter.

The CPI report raised expectations that the Federal Reserve will cut interest rates two times this year.