September Chaos Erupts: Diesel Spikes And Global Bond Yields Go Nuts As The U.S. And Iran Trade Ballistic Missile Attacks

The month of September has sure started with a bang. President Trump told us in advance that strikes on Iranian targets were coming, and he warned the Iranians not to hit back. Of course the Iranians did not heed that warning at all. Instead, they have launched a massive barrage of ballistic missiles in response. Missiles are flying back and forth all over the Middle East as I write this article, and the danger of a significant escalation is very real. Meanwhile, the price of diesel is absolutely soaring and global bond yields are marching into unprecedented territory. It appears that we could be right on the verge of some sort of a financial meltdown.

If you are alarmed by what you are witnessing, you are not alone.

A few hours ago, President Trump authorized a brand new wave of strikes in Iranian territory…

The US military confirms carrying out renewed strikes against targets in Iran.

“Today at 12 p.m. ET, U.S. forces began striking Islamic Revolutionary Guard Corps (IRGC) targets in Iran,” CENTCOM says in a statement.

“The strikes follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against American service members deployed to the region,” it says.

It was being reported that the first strikes were targeting “radar systems and military assets along a 300-mile stretch of the coast of the Strait of Hormuz”…

Around a dozen strikes have targeted Iranian radar systems and military assets along a 300-mile stretch of the coast of the Strait of Hormuz.

Iranian state media has reported strikes on the country’s oil-rich Qeshm Island located on the northern side of the strait. Explosions were reported in the southern port cities of Bandar Abbas and Chabahar.

Subsequently, large explosions were occurring in parts of Iran that are not along the Strait of Hormuz.

So far, we have not received any indication from U.S. Central Command that the strikes have ended.

On his Truth Social account, President Trump warned the Iranians that they would be facing a much more severe attack if they decided to retaliate…

Of course there was no way that the Iranians were going to hold back.

As soon as the U.S. strikes began, Iran announced that “crushing and devastating blows” would be coming.

Iran will respond to the US’ newest wave of strikes with an attack “several times larger,” Tasnim reported on Tuesday night, citing a senior Iranian military source.

In a statement shared by Tasnim, the General Staff of Iran’s Khatam al-Anbiya Central Headquarters stated that it would “deliver crushing and devastating blows to the despicable and malevolent American enemy.”

Not too long afterwards, ballistic missiles were being launched from locations all over the country…

Tasnim and Fars news agencies have reported that the Iranian armed forces fired missiles and drones towards aggressor US bases in the region.

The IRGC public relations office said in a sttaement issued on Tuesday night that the “regret-inducing response” to the aggression by the US military had begun.

The IRGC also said that the US aggression latest of which happened on Tuesday night would strengthen the lock on the Hormuz Strait.

There were reports of missiles being fired from Karaj next to Tehran, Kermanshah and Aligoudarz in Lorestan Province in the west of Iran.

A lot of analysts were surprised by the size of the Iranian response.

In fact, it is being called one of the largest Iranian missile barrages of the war so far…

The IRGC-affiliated Tasnim news agency said Tuesday that Iran had carried out one of its largest missile barrages of the recent fighting against US bases and positions.

It appears that at least some of those missiles got through.

There have been initial reports of “powerful explosions” at Jordan’s Muwaffaq Salti Air Base…

Social media is also buzzing about a potential ballistic missile impact in Aqaba, Jordan.

Some were speculating that King Hussein International Airport was the target.

But now it appears that Camp Titin has been hit.

Camp Titan is a U.S. Marine Corps military installation located near the Gulf of Aqaba.

The Iranians are claiming that they did a tremendous amount of damage, but the U.S. is denying this.

Hopefully we will learn more in the hours ahead.

Now that the Iranians have hit back so hard, it is probably inevitable that President Trump will escalate matters.

And that is likely to spook global investors even more.

In recent days, the price of diesel has been spiking to crazy heights…

We are being told that the average price of a gallon of diesel in the United States is currently $5.633.

But in my area the price of diesel is well above six dollars a gallon.

Meanwhile, government bond yields are surging all over the world.

In fact, borrowing costs in the UK and in Japan have both reached multi-decade highs…

The key U.S. 10-year Treasury note yield moved to a 20-month high, rising 3 basis points to trade at 4.7880%.

Japan’s benchmark 10-year bond yield jumped more than 6 basis points, moving to 3% for the first time since 1996. Japan’s short-term 2-year government bond yield also touched a 31-year high of 1.81%.

Elsewhere, yields on U.K. 10-year government bonds, known as Gilts, rose more than 9 basis points to 5.2341%, their highest level since June 2008 in the midst of the Global Financial Crisis. The U.K. 30-year Gilt yield, meanwhile, soared 9 basis points to 5.8856%, its highest level since March 1998.

For months, the markets have been anticipating that the war in the Middle East would end soon.

Now reality is setting in.

Panic is starting to spread among investors, and it won’t take much to trigger a stampede for the exits.

More people are starting to realize that this war in the Middle East is a truly historic event.

I believe that some shocking escalations are ahead, and nothing will ever be the same after this.

Things were relatively quiet during the month of August, but now September is here.

I expect that this month will be very chaotic, and the same thing could be said about the rest of this year as well.

Michael’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

About the Author: Michael Snyder’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com.  He has also written nine other books that are available on Amazon.com including “Chaos”, “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”.  When you purchase any of Michael’s books you help to support the work that he is doing.  You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter.  Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites.  These are such troubled times, and people need hope.  John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.”  If you have not already done so, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.

The post September Chaos Erupts: Diesel Spikes And Global Bond Yields Go Nuts As The U.S. And Iran Trade Ballistic Missile Attacks appeared first on End Of The American Dream.

Michael Snyder is the publisher of The Economic Collapse Blog, The American Dream Blog and The Truth. You can follow him on Twitter right here.