GLOBAL MARKETS-Shares gain, Treasuries steady ahead of U.S. inflation data

World stocks traded higher and bonds and currencies steadied on Wednesday, largely unfazed by ratings agency Fitch downgrading its China outlook, while traders awaited crucial U.S. inflation data due later in the day. Europe's broad STOXX 600 index rose 0.6%, recovering after a drop the day before and heading back towards a record high, while MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.65%, and U.S. S&P 500 futures were flat. Resilient economic data, particularly in the United States, combined with expectations that central banks will be cutting rates this year, have boosted stocks in most markets around the world.