Global stocks soar again as China rate cut adds fuel to Euro's bonfire of currencies

``China's surprise out of hours move saw it cut it benchmark one-year lending rate by 25 basis points to 4.35 percent and lower big banks' reserve requirement ratio by 50 basis points to 17.5 percent... "It is basically throwing more fuel into the global risk rally after Draghi's pretty bold moves yesterday," said Alvin Tan, an FX strategist at Societe Generale, about the China cut.''