• VisionWave on Roadshow –

+++Houthi rebels attack Saudi Arabia+++Oil price explodes+++Low gasoline and diesel inventories+++Inflation rises+++Central banks react+++Germany provokes Russia+++Lavrov speaks of a declaration of war+++Are we heading toward World War III?+++Cyberattacks in Great Britain and the USA by Iran+++Is a blackout coming soon?++++++Japan runs into difficulties+++AfD on the rise – what now?+++Black swans ante portas?+++Eastern European stock markets offer major opportunities+++CECE Index (Poland, Hungary, Czech Republic) +25%+++VisionWave on roadshow+++

The situation in the Iran war is becoming increasingly tense, as is the situation in Ukraine. Trump opened Pandora’s box with the Iran war. Iran continues to attack U.S. bases. The Strait of Hormuz remains under Iranian control. In addition, the Houthi rebels from Yemen are now successfully attacking oil facilities in Saudi Arabia. At the same time, the war in Ukraine is escalating further, where Germany, following its excessive reactions to the drone attack in Leipzig, is now officially described by the Russian side as a party to the war and an adversary. Putin was also present at the BRICS summit in New Delhi. Cooperation among the BRICS countries is to be intensified. More than 70% of bilateral transactions are already being conducted without the U.S. dollar. Representatives from Iran and Saudi Arabia also attended the BRICS summit. All parties called for restraint.

The oil price is exploding. Inflation continues to rise. Central banks are trying to counter this with higher interest rates. The ECB has already reacted, and the FED could follow on September 16. U.S. bond yields at the long end are rising sharply, which is very dangerous and receives far too little attention. If Japan also raises interest rates, there is a risk of carry trades unwinding if the yen strengthens again, which would also be dangerous. A hot autumn lies ahead. Wars today are won through new innovations such as AI-powered drones. NASDAQ-listed VisionWave Holdings Inc., which develops innovative solutions for autonomous systems on platforms, will be holding a roadshow in Germany from September 23 to 28 in Munich (Sept. 23), Frankfurt/Main (Sept. 24), Cologne (Sept. 25), Hamburg (Sept. 26) and Berlin (Sept. 28, 2026). Interested parties can contact ESI GmbH at info@eaststocke.de).

Despite geopolitical and monetary policy risks, Eastern European stock markets remain clear outperformers, especially the markets in Warsaw, Budapest, Bucharest and Almaty, each with gains of more than 30%. The CECE Index, which includes Hungary (+40% in the HTX Index), Poland (+32% in the PTX Index) and the Czech Republic, has gained 25% since the beginning of the year, while the SETX Index of Southeastern European stocks has risen by as much as 27%, whereas after the September correction the DAX has managed a gain of only 4.2% and the S&P Index a gain of 11.6%. The SETX Index of Southeastern European stocks has already risen by almost 30%, with the indices from Bulgaria (BTX Index) and Romania (ROTX Index) each gaining more than 30%.

All of these indices and stocks are covered in detail in the East Stock Trends stock market newsletter (most recently with a Bulgaria Special and next time with a tenbagger from Azerbaijan). Despite their clear outperformance, Eastern European stock markets still receive very little attention in the Western media. In the long term, there are even opportunities for tenbaggers.

Andreas Männicke provides his assessment in his East Stock Trends stock market newsletter (www.eaststock.de ) and also in his new EastStockTV video, episode 273 on YouTube.

Saudi Arabia under pressure from Houthi rebel attacks

Trump opened Pandora’s box with the Iran war. So far, Trump has failed to bring Iran to its knees either through sanctions or militarily. On the contrary: Iran continues to successfully attack U.S. bases in the Middle East. In addition, the Houthi rebels now also appear to have control over the Red Sea. The Houthi rebels are also successfully attacking oil facilities and pipelines in Saudi Arabia. The East-West Pipeline in Saudi Arabia was attacked from Iraq and partly destroyed, meaning that no oil is currently flowing through it. Saudi Arabia normally transports almost 3 million barrels of oil per day via the Red Sea to Asia and Europe, but the Houthi rebels are now partly preventing this. Oil production in Saudi Arabia has therefore been severely weakened, especially since facilities belonging to the oil company Saudi Aramco have also been attacked. The Crown Prince of Saudi Arabia asked Trump for military assistance, but Trump refused and focused on his election campaign. If all of this continues for a prolonged period, a genuine global energy crisis could develop in the autumn/winter.

Brent crude oil price explodes

The Brent crude oil price subsequently rose to as high as USD 108/barrel, but has now corrected back to USD 105/barrel. Inventories of diesel and gasoline in the USA have fallen to new lows. Drivers in Germany are also now feeling the impact of high gasoline prices. The longer the war continues, and above all the longer the Strait of Hormuz remains closed and now also the sea route through the Red Sea, the greater the risk of a genuine global energy crisis, which would then also fuel inflation again. And that would once again become a problem for the central banks.

U.S. government bonds remain under pressure

The ECB has already reacted with the widely expected interest rate increase of 0.25 basis points. There is now a high probability that the FED will follow on September 16 and also raise interest rates by 0.25 basis points. This is why gold and silver had previously weakened somewhat in September. Yields at the long end of the curve on 10- and 30-year U.S. government bonds remain worryingly high. The yield on 10-year U.S. Treasuries rose to 5% for the first time in a long time, while 30-year yields reached 5.3%, which is a first warning signal. But 10-year Japanese government bonds also yield 3% and 30-year bonds 4%, which is another warning signal, since both countries are heavily indebted, with debt at 124% of GDP in the USA and more than 200% of GDP in Japan. The key interest rate is 3.5% in the USA and 1% in Japan, which is already very high by Japanese standards. If the Japanese central bank now also raises interest rates further because of inflation risks and the yen strengthens again, there is a danger that carry trades with a volume of USD 14 trillion could unwind, which would put further pressure on the stock markets if assets abroad have to be sold. The U.S. stock market would then slump, as would the U.S. bond market, while yields would inevitably rise further. Even gold, silver and Bitcoin could then fall.

Carry trades in Japan could unwind and weigh on the markets

In Japan, 30-year government bonds are already yielding 3%, which is a problem given the country’s massive national debt of more than 200% of GDP. The Nikkei Index, with a gain of 23.5%, is still the top performer among all Western stock markets. Nevertheless, investors should keep an eye on the complex situation in Japan, as well as in heavily indebted France, because in a worst-case scenario a black swan could emerge in either country. The situation becomes increasingly dangerous the more the war in Iran escalates and the higher energy prices rise.

BRICS calls for restraint

At the BRICS summit in New Delhi, which was also attended by Russian President Putin and Chinese President Xi Jinping, Iranian President Masoud Pezeshkian, the Crown Prince of the United Arab Emirates and Saudi Arabian Foreign Minister Faisal bin Farhan Al Saud also took part. In a joint declaration, all participants called for restraint and a transition to diplomatic negotiations. More than 70% of bilateral transactions among the BRICS countries are already conducted in local currencies. It will be interesting to see how Turkey positions itself in the near future, as it has already threatened to attack Israel if Israel continues to bomb areas in the Gaza Strip as well as in Syria. Turkey, Pakistan and Saudi Arabia recently agreed on a joint defense alliance, but so far they have not become actively involved in driving out the Houthi rebels.

Ukraine war escalates: Germany becomes an active party to the war

But it is not only the Iran war that appears to be escalating; the war in Ukraine is also intensifying, with both countries attacking each other with drones and missiles more heavily than ever before. This is also causing major economic damage on both sides. In addition, the budget deficits in both countries are growing. In Ukraine, they already amount to almost USD 30 billion and in Russia to USD 70 billion. Russia, however, is now benefiting from the high oil prices, which are bringing fresh money into its war chest, even though Germany is increasingly monitoring Russia’s shadow fleet.

Following the questionable drone incident in Leipzig and the German government’s measures against Russia, Russian Foreign Minister Lavrov said that Germany had now effectively declared war on Russia. He strongly criticized Merz’s intention to turn Germany into a leading military power. Lavrov asked whether Merz had failed to notice World War II. The fact that Germany wants to build drone factories in Ukraine is also, from Russia’s perspective, clear evidence that Germany is becoming an active party to the war. If NATO troops are then also deployed to Ukraine, we will no longer be far away from a Third World War.

AfD and BSW call on Merz to enter diplomatic negotiations with Russia

The AfD and the BSW, which together would have a majority in Saxony-Anhalt, scored points with the issue of “no war against Russia” and their call for diplomatic negotiations. Especially when money is lacking at home, it is difficult to understand why so much money is being pumped into Ukraine while the use of these funds is not properly controlled and large amounts of money are apparently disappearing into corrupt, obscure channels. The USA has also complained about this, as Selinskyi did not know where USD 100 billion had gone, which is actually a scandal. Allegations of corruption in Ukraine are increasing.

It would now be time to organize massive demonstrations in order to increase pressure on the German government to engage in diplomatic negotiations and to avoid a state of tension, repeatedly called for by CDU politician Kiesewetter, which would result in severe restrictions on fundamental rights. Putin and Lavrov have explicitly stated that they do not want a war against Germany and that Germany has so far never been attacked by them. It is outrageous that the EU is now not entering into negotiations with Putin, also in order to avoid a possible Third World War. It is not yet too late, but it is high time.

U.S. drone specialist VisionWave Holdings Inc. on roadshow in Germany

Merz is therefore described by AfD supporters as a warmonger. German Foreign Minister Johann Wadephul complained that Ukraine had ordered too few military products from Germany and praised the many German start-up companies that manufacture drones in Germany. In fact, AI-equipped drones have become indispensable in modern warfare. NASDAQ-listed VisionWave Holdings Inc (WKN A41801, price EUR 0.38, market cap EUR 11.7 million) will be holding a roadshow in Germany from September 23 to 28 in Munich (Sept. 23), Frankfurt (Sept. 24), Cologne (Sept. 25), Hamburg (Sept. 26) and Berlin (Sept. 28, 2026, each at 6 p.m.). The company develops new innovative solutions for autonomous systems such as drones in the defense and commercial sectors. Those interested in the roadshow can register with ESI GmbH at info@eaststock.de.

Eastern European stock markets continue to boom to new highs

Most Western stock markets declined somewhat in September, but Eastern European stock markets even rose to new highs. Silver and gold have also recently weakened somewhat. Bitcoin and other cryptocurrencies moved sideways. Eastern Europe therefore remains not only this year, but also over the past three years, the best investment region, with prices doubling over the last three years. Hardly any investors participated in this performance, however, because Eastern European stock markets still receive far too little attention in the media, which they do not deserve. The top performers this year are the stock indices from Hungary (HTX Index +40% in euros, but “only” +32% in forints), from Romania (ROTX Index +31.2%), from Bulgaria (BTX Index +30.5%), from Poland (PTX Index +29%, +32% in PLN) and from Croatia (CROX Index +17%). All of these stock markets performed far better than the S&P Index with a gain of 13%, or even the DAX40 Index with a gain of only 4.2%.

Get informed first, then invest

Find out more now about the background and development of the Ukraine/Russia crisis, but also about the future recovery potential of undervalued Eastern European stocks. There are also new opportunities in the Baltic States, Southeastern Europe and the CIS republics (Kazakhstan, Georgia). In 2025, no fewer than 9 Eastern European stock markets once again outperformed with strong gains (CECE Index >50%!). And from the beginning of this year until now, there have once again been 9 Eastern European stock markets that clearly outperformed the DAX. It therefore remains worthwhile to look beyond the usual horizons toward Eastern Europe.

So order a trial subscription now (3 issues by email for only EUR 15) to the monthly EAST STOCK TRENDS (EST) stock market newsletter, featuring another Romania and Hungary Special and an Eastern Europe Certificates Special, as well as plenty of background information and new investment ideas such as the “Stock of the Month” and attractive certificates at www.eaststock.de, under Stock Market Newsletter. The latest EST issue was published on August 31, 2026.

TV/Radio Notes: On July 19, 2025, Andreas Männicke was interviewed by Michael Mross as part of the MMnews Club about the top stocks in Eastern Europe. On October 6, 2025, Andreas Männicke was also interviewed by Andreas Gross on Börsenradio Networks about the new opportunities in Eastern Europe. You can download all radio and TV interviews from the video archive at www.eaststock.de, including the latest EastStockTV video, episode 270. By the way: in addition to the EastStockTV YouTube channel, have you already subscribed to the new BRICS-TV YouTube channel?

Seminar Note: If you are interested in new “Go East” Eastern European stock market seminars or a BRICS seminar in Frankfurt/Main or other cities, please contact the EST editorial team (www.eaststock.de). If you are interested in Eastern European stock market webinars and BRICS webinars, please also get in touch.

Order Andreas Männicke’s free newsletter now, featuring the latest news on global and Eastern European stock markets and the BRICS countries, at www.eaststock.de. You can also contact info@eaststock.de if you are interested in a new BRICS newsletter by Andreas Männicke.