Everyday consumers are feeling the pinch, and the latest Michigan data is brutal: • Consumer sentiment: 46.3 (missed the 47.8 forecast), marking the 3rd straight monthly drop and sitting just 1.5 pts above May’s record low of 44.8. • Current conditions: 44.7, an all-time low, down from 50.9. • Durables: Buying conditions cratered amid high borrowing costs and price tags. Expectations ticked up slightly (47.3 from 46.3), but the day-to-day squeeze is what’s hitting home.