In case you missed the earlier headline:
It has been coming since the weekend and even with the rate cuts, China is expected to do more in order to try and shore up confidence and bolster economic performance.
At the start of the year, everyone was so sure of a major rebound in global demand after China abandoned its zero-Covid policy at the end of last year here. But just six months in, and everything seems to be falling apart in more ways than one.
So far today, the rate cuts isn't breathing life into risk assets and perhaps quite the opposite if you look over to the Chinese yuan and the antipodeans itself. AUD/USD is down 0.7% to 0.6800 as the upside run starts to lose momentum, after nearly touching 0.6900 at the end of last week.
In the equities space, S&P 500 futures are still down 0.2% today but even looking at regional stocks in Asia, there isn't much cheer. The Hang Seng is down 1.5% while mainland China stocks are pretty much little changed.
That could be the market's way of saying that the rate cuts are telling of more problems than it being a solution to China's recent economic struggles.
