And just like that what was already a terrible day for doves and those hoping disinflation would finally arrive - not to mention Biden and the Fed - got much worse when moments ago oil spiked by over $1 per barrel with WTI jumping above $86 and Brent over $90...
... after a Bloomberg report that the US sees a missile strike on Israel by Iran and proxies as "imminent" to wit:
The US and its allies believe major missile or drone strikes by Iran or its proxies against military and government targets in Israel are imminent, in what would mark a significant widening of the six-month-old conflict, according to people familiar with the intelligence.
The potential assault, possibly using high-precision missiles, may happen in the coming days, the people said, requesting anonymity to discuss confidential matters. It is seen as more a matter of when, not if, one of the people said, based on assessments from US and Israeli intelligence.
Iran has threatened to hit Israel in retaliation for an attack on a diplomatic compound in the Syrian capital of Damascus last week that killed senior Iranian military officials. Israel has not explicitly acknowledged it was behind that attack, though it has traditionally followed a policy of ambiguity on operations in Syria, Lebanon and elsewhere.
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US and Western intelligence indicates an attack from Iran and its proxies may not necessarily come from Israel’s north, where Tehran’s ally Hezbollah in Lebanon is located, the people said.
US and Western intelligence indicates an attack from Iran and its proxies may not necessarily come from Israel’s north, where Tehran’s ally Hezbollah in Lebanon is located, the people said. Israeli officials are in agreement with the allied view. They’ve also publicly threatened Iran that if it hits Israeli soil, Israel will hit Iranian soil.
Earlier on Wednesday Iran’s Supreme Leader Ayatollah Ali Khamenei repeated a vow to retaliate against Israel for the Damascus strike, which he said was tantamount to an attack on Iranian territory.
And while the Bloomberg report said nothing we haven't already reported, perhaps it was the urgency of the headline or the market's hypersensitivity to anything that can push inflation even higher, that sparked the powerful reaction. Ironically, the news hit just moments after we correctly predicted that the idiotic Biden puppetmasters are about to push the world into yet another catastrophic war.
The good news: Boeing stock is a buy here.