"Never combine a price target and time frame in the same forecas

ECB appears to have taken on the mantle of "lender of last resort but don’t tell anyone we are doing it" and the latest talk is that it was confusion with a FunRun the bank was organising. As we type, the first punchy call "*UBS ADVISES INVESTORS TO BET EURO WILL WEAKEN TO 1.29 FRANCS". We note they are invoking the old Ex-US investment bank rule of "Never combine a price target and time frame in the same forecast". A classic "Get out of Jail free".