Frenetic trading activity around artificial intelligence and chipmakers has tech heavy stock indexes from Wall St's Nasdaq to Japan's Nikkei just a stone's throw from all-time highs - even if Tuesday's U.S. inflation update had them back off for now. With US annual consumer price inflation expected to ebb to a near 3-year low of 2.9% - and below 3% for the first time since March 2021 - rates and bonds markets held steady. Even though Federal Reserve futures markets now have sights firmly set on May rather than March for the first interest rate cut in the cycle, the central bank will welcome another retreat in CPI even if core rates remain stick.