ECB/Draghi last week basically didn't let signals out about further easing under current growth circumstances.
Federal Reserve cavalry, including Bernanke, apparently switched stance with tapering talks even though economic growth momentum has continued fading.
And now Kuroda remains ON HOLD, contrary to expectations after 1/ Abe fails to release 3rd Arrow, preferring to wait at least until Elections later in July and 2/ the Nikkei falls 20%, USDJPY giving back some 7%.
G3 Central Banks are now hawks at the margin. Maybe Gold should follow inflation expectations, of FURTHER desinflation, and fall, along side Credit and Equities.
My opinion is that they started to accept that monetary support during balance sheet recession has diminished use and the distortions CBs are creating are dangerous.
Bull, start to worry.
"Markets are good at predicting recessions because they cause recessions." (Soros, Alchemy of Finance)